The task now is to deepen reforms to raise economic growth further, make it last, and spread its benefits to Egypt’s rapidly growing population and its youth and women, as the IMF says in its latest economic health check.After more than a year since the launch of the economic reform program, GDP growth is strengthening and inflation is declining. The government trimmed the budget deficit, tourism revenues and remittances are increasing, and the country’s foreign exchange reserves have been rebuilt. Deep and lasting structural reforms are needed to create jobs as speedily as needed for Egypt’s growing population,” said Subir Lall, head of the IMF team for Egypt.Below are the IMF’s key recommendations:Making stability lastEgypt must entrench the stability attained thus far. Helping low-income families.Although economic stabilization is critical, Egypt also needs to protect its lower-income families. On December 20, 2017, the IMF Executive Board approved the third installment of the three-year, $12 billion Extended Fund Facility.

Source: Egypt Today January 23, 2018 14:03 UTC