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Egypt Today: World has confidence in Egypt's economy

The CBE governor said that Egypt is adopting liberal policies in light of the country's aim to boost economic growth via depending on various sources.
14.04.19 | Interesting article at Egypt Today

"The world trusts the capabilities of Egypt's economy, following the success of the economic reform program which exceeded expectations,".said Governor of the Central Bank of Egypt Tarek Amer, pointing out that the inflation rate fell to less than 10 percent.

This came during his interview with Egypt Today at the headquarters of the International Monetary Fund in Washington, DC.

The CBE governor said that Egypt is adopting liberal policies in light of the country's aim to boost economic growth via depending on various funding sources and not only the domestic savings.

The unemployment rate has reached 13 percent, Amer said, adding that the budget deficit, in only two years, declined to LE 6 billion from LE 20 billion. He noted that about LE 160 billion have been allocated for investments by the Finance Ministry.

Amer also said on Friday that foreign cash flows from different sources have recorded $130 billion since the Egyptian pound exchange rate liberation in November 2016, stressing that this is an important indicator that reflects the improvement of the Egyptian economic situation. The amount includes dollar bonds, loans, treasury bills and stock market flows.