"Egypt has started implementing an economic reform plan, supported by the International Monetary Fund (IMF) and all our development partners, which included a package of tough measures that will help to achieve prosperity in the short term," said Ahmed El-Wakil, the President of the Egyptian Federation of Chambers of Commerce and the Union of Mediterranean Chambers. The plan Includes the reduction of the budget deficit, the rationalization of support to reach its beneficiaries, the rationalization of government spending except investment, and the establishment of a fair price for the pound, all with the continuation of the stimulus package in infrastructure, a program praised by all international bodies and helped in pushing Egypt’s classification.
The words of El-Wakil came during the opening of the fifth Euro-Mediterranean Finance Conference, "Meda Finance", where he stressed that "Egypt is witnessing radical changes today, moving it to the ranks of the most attractive countries to invest in various fields within the framework of a clear and transparent economic road map that we have developed together with the private sector, and supported by Egypt’s youth in our new constitution, which stressed our economic orientation within the framework of free market mechanisms, the role of the private sector, and support competition and consumer protection”.
Source: (Union of Egyptian Chambers of Commerce, Edited)
