15 February 2013

Egypt: Qandil - Country Has an Integrated Emergency Plan for Economic Reform

Prime Minister Hisham Qandil said that Egypt has an integrated emergency plan for economic reform, adding that the government aims at providing 750 thousand jobs by the end of the year.

During the ceremony organized by the Social Fund for Development (SFD) in tandem with Cairo University, Qandil said that the government is on constant contacts with IMF experts, noting that the IMF mission will be invited to visit Egypt to complete talks on the Fund's loan.

The Prime Minister pointed out that the political scene casts a shadow on all plans of the government for economic reform.

Cabinet Spokesman Dr. Alaa Hadidi said that the new economic reform program is striking balance between social justice and economic growth. He added that the program aims to increase the growth rate to reach 3.5% during the year, and then to 4.5% in the next year, thus achieving a sustainable development that leads to a growth rate of 7% on average until 2022.

Hadidi pointed out that the new economic reform program aims to increase local and foreign investments to reach EGP 267 billion per year where the government contributes by nearly EGP 100 billion.

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