IMF
Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023
Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market
Expenditure amounted to $61.25 billion, with a budget deficit of 3.6 percent
Saudi Arabia's GDP contracted by 0.4 percent annually primarily driven by the 8.5 percent annual decline in oil activities
The decision follows a positive economic assessment since the program's launch in December 2022
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
