Lew urges Egypt to push forth with reforms to stabilize economy

Egyptian President Abdel-Fattah El-Sisi has pledged to restore stability and fix the economy, and announced a new economic program this summer. Speaking in Cairo today, Lew emphasized the importance of both individual freedoms and a strong economy.

“We welcome these reforms and urge the Egyptian government to continue on its path,” Lew said at a press conference with Hany Kadry Dimian, Egypt’s finance minister, after they met. “We discussed the rule of law and how to create an open political environment in which individual rights are fully respected to further bolster Egypt’s ability to attract international investment.”

El-Sisi, who was elected this year after leading the military ouster of Islamist President Mohamed Mursi in 2013, announced economic programs that introduce new taxes, increase others and reduce energy subsidies.