IMF offical hails recent economic reforms in Egypt

GMT 01:18 2014 Sunday ,12 October

Arab Today, arab today IMF offical hails recent economic reforms in Egypt

Washington - MENA

 Christopher Jarvis, of the International Monetary Fund's Middle East and Central Asia Department, hailed on Saturday as good economic reforms adopted recently by the Egyptian government.
These reforms will contribute to improving the position of the Egyptian economy, Jarvis said in statements on the sidelines of the annual Spring meetings
of the IMF and the World Bank Group held in Washington.
Jarvis welcomed the steps Egypt has taken to reform the subsidy system and the tax reforms which allow to increase resources and curb the subsidy bill.
He lauded the 3.5-percent growth rate which was achieved this year compared to the 2 percent in the previous year.
He pointed out that Egypt is still facing problems, including the increasing rate of unemployment, the financial deficit and the inflation rate which hit 10 percent.
Jarvis said that he will head an IMF mission during its visit to Egypt in late November.


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