NEW YORK, Sept 24, 2018 (MENA) - World Bank President Jim Yong Kim and Managing Director of the International Monetary Fund (IMF) Christine Lagarde have praised successful steps achieved by Egypt in its economic reform march during their meeting with visiting Egyptian President Abdel Fattah El Sisi, Presidential Spokesman Bassam Radi said. During the meeting, WB president Kim asserted that the bank will continue its backing for the economic reforms that were launched by Egypt in view of such successful efforts carried out as part of a comprehensive economic and social reform, Radi added. Kim also said the recent reforms have had positive outcome on ground, citing a rise in growth rates, reduction in budget deficit, maintained collective economic stability, improved business and investment climate. He also talked about Egypt's efforts to put funds cut from subsidies into the service sector and development projects, making Egypt a successful model in realising stability and implementing the stages of economic reforms in a record time, under a wise leadership and in cooperation with the World Bank, according to the spokesman. Meanwhile, IMF Managing Director Christine Lagarde said Egypt's economic reform has made a success and noticeable progress by the IMF and other international economic foundations, the spokesman noted.
