The International Monetary Fund IMF predicts Egypt’s inflation to drop during the second quarter of 2017, state owned news portal, Ahram Online reported.

In an article published today, Egypt’s annual headline inflation reached 24.3% in December compared to 20.2 in November, Ahram Online reported.

According Ahram Online, the IMF anticipates that Egypt’s inflation rate to drop during the second quarter of 2017. IMF’s Mission Chief in Egypt Chris Jarvis said on January 18, “We would expect the monthly increases in inflation to drop sharply by the second quarter of this year,” Ahram Online reported.

It is expected that the “headline rate of inflation to begin to fall then as well,” to which Jarvis suggests will be a major success of the program.