Cairo - Mubasher: Egypt’s economy is currently showing strong signs of recovery, Christine Lagarde, managing director of the International Monetary Fund (IMF), stated.
Following a meeting with Egyptian President Abdel Fattah El Sisi in New York, Lagarde said that the North African nation’s economic growth is considered among the highest in the Middle East region.
“President El Sisi and I discussed the good progress under Egypt’s economic reform program supported by the IMF’s $12 billion Extended Fund Facility,” Lagarde said, according to a recent IMF’s press release.
El Sisi and Lagarde have agreed on the importance of capitalising on Egypt’s macroeconomic gains to advance the authorities’ home-grown structural reforms.
These reforms are expected to achieve more sustainable, inclusive and private-sector led growth which will help create more jobs for the youth of Egypt, as well as ensuring adequate resources for social protection.
“I reiterated the Fund’s commitment to support Egypt and its people,” IMF’s managing director said.
