Egypt's Sisi delivers economic reforms but hurdles remain

Slashing costly fuel subsidies, raising taxes and devising infrastructure projects to secure long-term revenues and ease unemployment.

Those are moves that have long been sought by foreign investors. But winning their full confidence will require pushing ahead with further politically-sensitive reforms and sealing an elusive deal with the International Monetary Fund.

A loan from the global lender would serve as a badly-needed stamp of approval for a country battered by political turmoil since a popular uprising ended 30 years of rule by autocrat Hosni Mubarak in 2011.

For decades, Mubarak mostly avoided politically-risky reforms that might anger a population reliant on subsidised food and fuel. His Islamist successor Mohamed Mursi also showed little sign of progress during a tumultuous year in power.