An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt December 27, 2016. REUTERS/Mohamed Abd El Ghany
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Economic activity for Egypt's non-oil private sector accelerated the most since 2014, a sign that growth may be recovering after authorities abandoned currency controls and secured a $12 billion IMF loan deal.The Emirates NBD Purchasing Managers' Index for the whole economy climbed for the third month in a row to 46.7 in February from 43.3 in January. The Egyptian pound has lost about 40 percent of its value since the float, causing annual urban inflation to accelerate to 28 percent in January.The PMI survey showed that the degree of optimism among companies improved to an eight-month high.
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