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Egypt accomplishing 2nd phase of economic reform programme

Egypt accomplishing 2nd phase of economic reform programme
Egyptian finance minister Mohamed Maait

Cairo – Mubasher: Egypt has successfully completed the first phase of the economic reform programme during the last three years, Egyptian finance minister Mohamed Maait stated on Thursday.

The North African country is currently working on the second phase of the programme which includes organisational reforms to promote the economy’s competitiveness, Maait maintained.

The second phase also includes manufacturing, job creation, and the maximisation of Egyptian manpower’s productivity, he added.

The minister revealed that Egypt’s economy grew by 5.6% in the fiscal year 2018/2019, compared to a growth rate of 2.3% in 2011.

The unemployment rate dropped to 7.8% in the third quarter of 2019, compared to 12% in 2017, Maait said.