IMF Mission to Egypt: Improvement in Targeting of Energy Subsidies
Cairo
A staff mission from the International Monetary Fund visited Cairo during April 2-15. At the conclusion, Andreas Bauer, Mission Chief for Egypt, issued the following statement:
“The mission made progress in the discussions with the Egyptian authorities on their economic program and possible financial support from the IMF.
“The authorities have already taken valuable first steps to improve the targeting of energy subsidies and are seeking to broaden their revenue base. They intend to build on these steps with further actions to address – in a socially balanced way – the country’s fiscal and balance of payments deficits, and create conditions for a sustained recovery of the economy.
“The mission was encouraged by the constructive positions and views expressed by the representatives of political parties on economic reforms and possible IMF support. All sides concurred on the need to protect the vulnerable sectors of society when implementing reform measures.
“Discussions with the authorities will continue with the objective of reaching agreement on a possible Stand-By Arrangement in support of Egypt.”
You may have an interest in also reading…
Some of it may well be Rocket Science, but ASU’s Recipe for Success is Simple
Jordanian university has built on solid foundations to reach beyond the scope of its peers The term “pioneering” is often
The Great ‘Ex-Retire Hire’: Over-50s Plugging Labour Shortages
Guy Garnett explores the fascinating return of retirees to the workforce, driven by labour shortages and economic pressures. A Surprising
Recycling Plastic: Is it Working, and are we Doing Enough…?
Once seen as a ‘wonder material’, this by-product of the oil industry has become a global environmental menace. Millions of
