WASHINGTON, April 21, 2018 (MENA) - Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Jihad Azour said late Friday policies and measures taken by the Egyptian government as part of the country's economic reform program have strongly contributed to a palpable improvement in the credit rating and economic outlook in the recent period. Addressing a briefing on the sidelines of the Spring Meetings of the IMF in Washington, Azour called on the Central Bank of Egypt to be confident in the adopted mechanisms. He cited overhauling the subsidy system by the end of 2019 as a macroeconomic management mechanism, as the overall and larger objective is to redirect resources to sectors with higher productivity.
