September 24, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Christine Lagarde, the managing director (MD) of global financial institution, the International Monetary Fund (IMF) said Egypt’s economy is showing strong signs of recovery, and its economic growth is among the highest in the Middle East.
This is coming on the heels of a meeting with the IMF’s MD and President Abdel Fattah El Sisi in New York.
“President El Sisi and I discussed the good progress under Egypt’s economic reform program supported by the IMF’s US$12 billion Extended Fund Facility. Egypt’s economy is showing strong signs of recovery, and its economic growth isamong the highest in the Middle East.
“We agreed on the importance of capitalizing on Egypt’s macroeconomic gains to advance the authorities’ home-grown structural reforms. These reforms will help achieve more sustainable, inclusive and private-sector led growth whichwill help create jobs for Egypt’s young population, while also ensuring adequate resources are available for social protection. I reiterated the Fund’s commitment to support Egypt and its people,” the IMF MD said.