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Egypt’s Economy Showing Strong Signs of Recovery
Source: 9/24/2018

Egypt's economy is showing strong signs of recovery and its economic growth rate is among the highest in the Middle East region, said Managing Director of the International Monetary Fund (IMF) Christine Lagarde.

Her remarks came in an IMF press release following a meeting between her and President Abdel Fattah El Sisi at his residence in New York where he is taking part in the annual United Nations General Assembly meetings.

According to the press statement, a copy of which obtained by MENA, during the meeting Sisi and Lagarde discussed the good progress achieved in the implementation of the economic reform program in Egypt and the IMF support to it through a loan worth US$12 billion under the Extended Fund Facility (EFF).

“We agreed on the importance of taking advantage of macroeconomic gains in Egypt to promote the government's structural reforms,” Lagarde said noting that these reforms will help achieve more sustainable and inclusive growth led by the private sector, which will help create jobs for the youth of Egypt while ensuring adequate resources for social protection.

She stressed the IMF’s continued commitment to supporting Egypt and its people.

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