World Bank: Egypt's economic reforms helpful in overcoming int'l crisis

The World Bank stressed that the economic reforms carried out by Egypt will help overcome the effects of the current international crisis.

The World Bank said "Macroeconomic and structural reforms undertaken by Egypt to start addressing entrenched economic and social problems are supporting the country in navigating the current difficult landscape. Reforms since 2014 to ease macroeconomic imbalances, enhance the performance of the energy sector, and mobilize financing enabled the country to enter the successive crises with relatively improved fiscal accounts and ample foreign reserves. Important institutional reforms were undertaken to improve the business environment, including on the trade facilitation and the business exit/restructuring fronts."