UN to mobilize int'l support for Sudan during transitional phase    MID Bank launches new brand in Egyptian market    Emaar Misr records one of Egypt's highest real estate sales figures in 2020    Egypt's Senate elects heads, members of special committees    Egypt‘s Shoukry, Greek counterpart discuss bilateral cooperation, regional issues    400k Egyptians registered for COVID-19 vaccines: Health Minister    Women comprise 42% of Careem Egypt employees    AlTameer Arabian's Rivan Tower sells out in 2 hours    Egypt, France conduct joint military exercises in Red Sea    Egypt set to launch new export support programme in July    Celebrating International Women's Day, Misr Insurance Takaful offers special discounts on four policies    Every place contains certain energy that affects visitor: Photographer Romany Hafez    3rd Rashid Bin Hamad Al Sharqi Award opens registrations    Berlinale Golden Bear award goes to Radu Jude's ‘Bad Luck Banging'    Misr Italia launches The Cliff, The Park phases in IL BOSCO    Egypt emphasises enhanced cooperation with Africa to address migration issues    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    2021 International Women's Day highlights transformative power of equal participation: UN    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Train derails killing 1, injuring 40 in southern Pakistan    Saudi-led coalition destroys eight Houthi drones: Saudi TV    Egypt condemns latest terror atack in Somalia    Sisi approves amending law honoring martyrs, victims, missing, injured in terror attacks    Live score: Liverpool v Fulham (English Premier League)    Pope visits Iraq's war-ravaged north on last day of tour    Messi provides 2 assists for Barca ahead of Madrid derby    Egypt detects 588 new coronavirus cases, 38 deaths on Saturday    Nigeria's Iheanacho, Ghana's Amartey give Leicester win over Brighton    Al-Sisi, Al-Burhan to intensify efforts towards reaching legally binding GERD agreement    Egypt's Aswan Forum for Sustainable Peace and Development II closed successfully: Foreign ministry    World Bank approves $440 million for enhancing Egypt's railways    Al-Sisi visits Sudan for first time after formation of new transitional government    Egypt stresses necessity of launching 'serious' negotiation process to reach deal on GERD before flood season    Egypt clubs protest Football Association decision to cover costs of COVID-19 tests    Messi serves as bright spot in Barcelona's disastrous season    Zamalek ready with striking force against Esperance Tunis    Sudan keen to enhance cooperation with Egypt: Sudanese FM Al-Mahdi    Egypt court upholds 3-year prison sentence for Mubarak-era Minister El-Feky    A Happy Purrfect Rescue Story of 4 Cats in Thailand    Egypt's Zamalek arrive in Tunisia to face Esperance in CAF Champions League    Winston Churchill's Moroccan landscape painting owned by Angelina Jolie sells for $11.5M    Orascom Construction to build Magdi Yacoub Global Heart Centre    Respect for diversity    Huawei launches HUAWEI FreeLace Pro in Egypt with extra-long battery life and top-grade noise cancellation    Enhanced Labs signs Mr. Olympia 2020 "Big Ramy" And His Trainer Dennis James    King Tutankhamun funerary mask is must-see tourist icon: The Telegraph    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Egypt, Ethiopia, Sudan to resume Nile dam talks today    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egypt: Reform Decisions issued without IMF Pressure
Published in Amwal Al Ghad on 13 - 07 - 2014

Egyptian Cabinet Spokesman Ambassador Hossam Al-Qaweesh underlined that the recent economic reform decisions, in terms of reducing energy subsidy, came out of keenness on the nation's best interest and without any foreign dictations or pressures.
Qaweesh ruled out that the International Monetary Fund (IMF) has any role in the issuance of these decisions, noting that the government has never discussed or sought to obtain a loan from the IMF.
The Ambassador noted that the step to amend the energy prices was late for 40 years, noting that this isn't an easy measure and reflects the government's courage and that its hands are not shaking.
Qaweesh also noted that the reform decisions were supported by President Abdel Fattah al Sisi, noting that their impact will be manifested soon in the launching of a number of services and development projects. He explained that Egypt's credit rating starts to rise and was positively reflected on the bourse performance last week.
It will also encourage investors to pump more funds in projects inside Egypt and are designed to offer thousands of jobs.
The Spokesman made clear that this reform step is not against the poor, but rather designed to serve them.
Meanwhile, Prime Minister Ibrahim Mehleb gave directives to services sectors ministers to be present in various governorates for one day on a weekly basis, given that the governors will work out reports on the problems facing their governorates and proposals to handle them.
Source: SIS


Clic here to read the story from its source.