Mostafa Madbouly, Prime Minister, chaired on Thursday the first meeting of the Coordination Council for Financial and Monetary Policies, in its new formation.
The Prime Minister reiterated that the approval of the Board of Directors of the International Monetary Fund (IMF) for the third review within the framework of the Egyptian economic reform program, which paved the way for Egypt to receive the third tranche of the program worth $820 million.
It represents a certificate of confidence in the Egyptian government’s program, including its reforms and financial and economic targets, and an important step towards helping to achieve the Egyptian government’s vision in this regard.
During a press conference on Tuesday, the head of the IMF mission in Egypt, Ivanna Vladkova Hollar, said that there are no reforms more urgent than others, and that one cannot focus on one reform without another.
She said that one of the important reforms is to increase tax revenues, control debt, and improve the public financial situation to be able to spend on priority sectors.
Structural reforms are very important, she said, and the priority now is not to backtrack on structural reforms and to give the private sector a greater role.
