Egypt’s economy one of the strongest in the Middle East

International Monetary Fund (IMF) Director Christine Lagarde announced that Egypt’s economy has become one of the highest growing economies in the Middle East.

Following a meeting with President Abdel Fattah al-Sisi, on the sidelines of the 73rd United Nations General Assembly, Lagarde said that “President Sisi and I discussed the progress under Egypt’s economic reform program supported by the IMF’s $12 billion Extended Fund Facility. Egypt’s economy is showing strong signs of recovery, and its economic growth is among the highest in the Middle East.”

Lagarde added the next step for Egypt to continue down this track of growth would be to depend more on the private sector, explaining that “We agreed on the importance of capitalizing on Egypt’s macroeconomic gains to advance the authorities’ home-grown structural reforms.”