Macro economy indices improve, and we seek to increase spending on the development of services, social protection as well as providing job opportunities

The Deputy Minister of Finance for Macro-fiscal Policies, Yasser Sobhi affirmed that the Ministry of Finance implemented economic and structural reforms and balanced policies aimed at maintaining financial stability, encouraging private sector, and supporting the production and export-based growth, which contributes to fostering competitiveness of Egyptian economy and attracting more local and global investment flows.

 

"The macroeconomic indicators of Egyptian economy improve, and we seek to increase spending on the development of services, social protection as well as proving job opportunities," said Sobhi in his meeting with international institutions, banks and investors, on the sidelines of autumn meetings of the International Monetary Fund and World Bank in Washington.

 

"Budget bodies' debt decreased by more than 10% of GDP, while the external debt declined by USD 4bn within two years," added Sobhi. "We are keen to diversify the sources, tools, and markets of finance to elongate debt life and reduce the cost and risk."

 

He clarified that tax and customs backage of facilities contributes to expanding the tax base and shortening time of customs release within the framework of partnership and support for businesses community, pointing out that the confidence and response of the private sector reflect the ability of economy to keep up progress and growth.