16 February 2019 03:59 AM

IMF mission chief hails economic stability in Egypt

Sunday، 15 July 2018 - 12:02 PM

Subir Lall, the International Monetary Fund (IMF) Mission Chief for Egypt, said the economic reform measures adopted by the Egyptian government have contributed to achieving economic stability in the country.

In statements to MENA on Sunday 15/7/2018, he said the ambitious Egyptian economic reform program has led to realizing several important achievements, including reducing inflation and unemployment rates.

The reforms included liberalizing the exchange rate, cutting energy subsidies and improving the investment climate, he noted.

Upping growth rates is helping to create new jobs and raise living standards for the Egyptians, he said.

He also referred to the government's move to support the social safety net to be more effective in serving large segments of poor families.

He commended the government for taking measures to up spending in the health and educational sectors.

He pointed out that additional bonuses for the country's civil servants reached about 7 to 10 percent of their salaries, noting that social insurance pensions rose by 15 percent.


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