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Egypt: Head of CAPMAS: 2017 Start Of Real Economic Reform in Egypt
Source: www.export-egypt.com 12/16/2017

Abu Bakr el Gendy, the head of the Central Agency for Public Mobilization and Statistics (CAPMAS), has said that real economic reform started in Egypt in 2017.

More reform measures should follow, Gendy said in statements to MENA .

Most of the economic indexes have improved after only one year of applying the "inevitable" reform measures, he noted.

He touched upon an increase in the growth rate and improvement in the balance of trade.

Gendy also talked about negative results, such as the increase in the inflation rate, but noted that the government was able to alleviate that through its "unprecedented" social protection programs.

Unemployment rates also receded in 2017, he added. He believes that the Egyptian economy is still in the safe zone despite an increase in the internal and external public debt, stressing this was the outcome of establishing projects, rather than consumption.



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