PM: Economic reform achieves positive results

CAIRO - 17 July 2019: Prime Minister Mostafa Madbouli said on Wednesday that the economic reform program that is adopted by the government has achieved positive results.

At a press conference at the Cabinet premises, he added that the government is working to remove all hindrances to development and investment.

Also, the government is offering incentives to exporters while introducing amendments into many sectors including the industrial and telecommunications ones.

The budget has achieved a two percent surplus or about 104 billion pounds, he said, adding that the budget deficit stands now at 8.2 percent.

Economic growth rates also reached 5.7 percent while inflation and unemployment rates went down, he pointed out.

Revenues of the government have exceeded its expenses, he said, adding that the public debt went down from 108 percent to 90.5 percent of the Gross Domestic Product.