(MENAFN - Daily News Egypt) Prime Minister Sherif Ismail said that Egypt is on the right track after the Egyptian pound's flotation which contributed to correcting the economic path of the country. He said that people should see the return of many medicines that were previously experiencing a shortage. According to Ismail, negotiations with Iraq to import oil are ongoing, and terms and conditions of supply operations from the Iraqi side are under study. The coming period will witness a further influx of direct and indirect investments to Egypt, which will be positively reflected in the GDP. Non-oil Egyptian imports started to decline during the last period, which will provide opportunities for national industries to expand and to provide alternatives in the market, according to Ismail.

Source: Daily News Egypt January 16, 2017 06:10 UTC