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2024-07-28 Africa North
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Egypt to push ahead with economic reforms, finance minister vows
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[ARABNEWS] Egypt’s Finance Ministry is awaiting IMF Executive Board approval of the third review of the country’s economic reform program, scheduled for Monday.
The IMF is expected to disburse $820 million to Egypt after concluding its review, and the government aims to ensure the continued success of future reviews.
Egyptian Finance Minister Ahmed Kouchouk said the government was strategically managing complex geopolitical factors to improve economic performance.
"We are looking forward to the IMF’s approval of this third review of the economic reform program, aiming for the continued success of forthcoming reviews and pursuing funding through the Resilience and Sustainability Fund," he said in a statement.
Kouchouk’s remarks follow his talks with IMF Managing Director Kristalina Georgieva on the sidelines of the G20 meetings in Brazil.
The minister reiterated the government’s commitment to achieving fiscal discipline by reducing debt relative to gross domestic product.
"Furthermore, the government aims to create sufficient fiscal space to increase spending on education, health, and social protection, and to reduce inflation rates to stabilize prices, thereby improving living conditions for citizens and supporting the competitiveness of companies."
Kouchouk highlighted the government’s priority to increase private sector investment, and boost productive and export activities. 
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Posted by Fred 2024-07-28 00:00||
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File under: Arab Spring
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Posted by Grom the Reflective 2024-07-28 00:44||
2024-07-28 00:44||
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