Minister of Planning and International Cooperation Ashraf el-Arabi, who is currently visiting Washington, explained the challenges facing the Egyptian economy and the government steps about that.
Restoring political stability is still the biggest challenge, said Arabi during a seminar held at the Middle East Institute in Washington.
Arabi asserted that Egypt is going in the right direction especially after writing the new constitution.
An economic strategy was set in January for 2015-2030, he said. The current government will not negotiate with the International Monetary Fund on getting a new loan, Arabi said.
The government is working on making structural reforms especially in rationalizing energy subsidy, Minister Arabi asserted.