IMF lauds performance of Egyptian economy
Egypt, Economics, 8/7/2001

A report by the International Monetary Fund (IMF) mission said the performance of the Egyptian economy this year was remarkably better than it was 10 years ago.

The Egyptian economy has manageed avoid a lot of slowdown factors, as a result of of policies adopted by the government over the past two years, said the report, sent to Prime Minister Atef Ebeid last week.

The IMF mission estimated the growth rate of Egyptian economy at 4.5 per cent, expecting the rate would climb to 5.5 per cent during the coming year.

The report said the key challenge to the Egyptian economy would be how to achieve the targeted growth rate and in the meantime face the budget deficit.

A package of safe financial policies, commitment to current economic policies and providing an atmosphere conducive to investment would help the government proceed ahead according to the report.

Members of the IMF mission ended a ten-day visit to Egypt, during which they reviewed the available documents and information on the performance of the Egyptian economy in the past financial year.

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