The Managing Director of the International Monetary Fund (IMF) Christine Lagarde’s praise for the recovery and strength of Egyptian economy confirms that we are on the right track in the economy recovery plan, according to Egypt’s Finance Minister Mohamed Moeit.

The Egyptian government is continuing to work at full capacity to implement the mandate of President Abdel Fattah Al-Sisi in strengthening resources and rationalising spending and interest in investing in human capital and the development of education and health systems, Moeit said.

In addition, focusing on the structural reforms of the system of taxes and customs as a real source of state revenues, in order to contribute effectively to the growth and create more job opportunities, as well as improve the standard of living of the Egyptian citizen.

The minister noted that Lagarde’s remarks after her meeting with President Al-Sisi stressed the commitment of the IMF to support Egypt in the framework of the recent structural reforms adopted by the state, such as the New Investment Law, bankruptcy law, and the industrial licensing law, that already contributed to improving the business environment and increasing investment in Energy-intensive sectors, such as tourism, manufacturing and food, witnessing the greatest impact on sustainable and comprehensive growth led by the private sector, as well as job creation for Egyptian youth, ensuring adequate social protection resources.