Chris Jarvis, Mission Chief for Egypt, International Monetary Fund (IMF), said the fund has been maintaining strong ties with Egypt, adding that the fund provides financial advisory to the government, in addition to holding talks in various investments fields.
Speaking on the sidelines of the Euromoney Egypt Conference that kicked off on Tuesday, Jarvis added that the Egyptian government is taking several major steps with the aim of bolstering the Egyptian economy. He commended the recent reform measures taken by the government describing them as major steps in the right track.
The Egyptian government raised in July fuel prices for the first time since 2008. It said it is seeking to reduce fuel subsidy during the fiscal year 2014/2015 by nearly EGP 44 billion to reach EGP 100.3 billion.
Egypt does not only require macroeconomic stability but needs higher growth rates that will help create more jobs, Jarvis said.
He stressed IMF commitment to cooperate with Egypt.
(Written by Ramy Sameeh; Translated by Sayed Abdel Rahman)
Speaking on the sidelines of the Euromoney Egypt Conference that kicked off on Tuesday, Jarvis added that the Egyptian government is taking several major steps with the aim of bolstering the Egyptian economy. He commended the recent reform measures taken by the government describing them as major steps in the right track.
The Egyptian government raised in July fuel prices for the first time since 2008. It said it is seeking to reduce fuel subsidy during the fiscal year 2014/2015 by nearly EGP 44 billion to reach EGP 100.3 billion.
Egypt does not only require macroeconomic stability but needs higher growth rates that will help create more jobs, Jarvis said.
He stressed IMF commitment to cooperate with Egypt.
(Written by Ramy Sameeh; Translated by Sayed Abdel Rahman)
Source:
Mubasher Exclusive
