STORY: Egypt's economy set to recover in FY2024/25: PM 
SHOOTING TIME: July 30, 2024
DATELINE: July 31, 2024
LENGTH: 00:00:40
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
1. various of the press conference

STORYLINE:

Egyptian Prime Minister Mostafa Madbouly said on Tuesday that the country's economy is set to recover from the current crisis in fiscal year 2024/2025.
   
In a televised press conference, Madbouly said Egypt's current economic indicators reflected positive momentum, noting the government targets to register an economic growth rate of 4.2 percent in 2025 and reduce the inflation to below 10 percent by the end of 2025.
   
Egypt's annual headline inflation dropped to 27.1 percent in June, down from 27.4 percent in May, continuing a downward trend for the fourth consecutive month, according to official statistics.
   
Over the past two years, the U.S. dollar shortage in Egypt has led to the devaluation of the local currency and the rise of a parallel currency exchange market in the country, plunging Egypt into one of its worst economic crises.
   
The crisis was further exacerbated by the Israel-Hamas conflict that erupted last year, which has impacted Egypt's tourism sector and halved its revenues from the Suez Canal.

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)