The International Monetary Fund has welcomed Egypt's recent efforts to modernise and streamline tax and customs procedures, saying the reforms are beginning to deliver positive results. "These reforms are starting to yield positive results," the IMF said in its latest report. It added that further domestic revenue mobilisation would be essential, mainly by broadening the tax base and streamlining exemptions, to enable the government to fund priority development and social needs. The IMF also praised Egypt's move to develop a medium-term debt management strategy, aimed at improving transparency and gradually reducing the heavy debt service burden in the national budget. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
