The economic reforms in Egypt are starting to bear fruit, with the domestic deficit shrinking by 67 percent in the current fiscal year, Bloomberg said. The victory of President Abdel Fattah al-Sisi in the election is expected to pave the way for further economic reforms, Bloomberg added. “There’s certainly a lot more to be done. The fiscal side is one area where they have done a lot but it’s still quite a challenging situation. [The] deficit is still close to 10 percent, debt is over 100 percent of the GDP,” she added.

Source: Egypt Independent April 06, 2018 09:22 UTC