The international community expressed its support to Egypt’s economic reform programme, Finance Minister Amr El-Garhy said in a press statement. Moreover, El-Garhy emphasised the positive effect of the government’s economic reform programme, which was approved by the parliament in April, and aims to address fiscal and monetary imbalances and structural problems afflicting the economy. He pointed out that these promising developments are motivation to continue further efforts in order to achieve the desired economic and social stability. El-Garhy stressed that the government’s financial policy is focused on reprioritising public spending to ensure efficiency, rationalise public spending, and reduce subsidies by directing it to those most in need, without burdening the eligible lower-income brackets. He also pointed out that there has been an increase in public spending on education and health.

Source: Daily News Egypt October 15, 2016 14:48 UTC