Amr Al Garhy:IMF loan aims to redress budget deficitSource: www.export-egypt.com 8/2/2016, Location: Africa |
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 Finance Minister Amr Al Garhy said the IMF did not call for introducing any taxation amendments or laying off two million state civil servants from the state machinery.
Garhy said the IMF has offered no conditions for granting Egypt a loan for supporting its economic reform program. He said the loan would be used in redressing the budget deficit and to control prices hikes. The minister said talks on offering loans to Egypt means an admission of the government reform program and reflects IMF confidence in the government efforts to control monetary policies. He said mega national projects played no role in increasing the budget deficit adding they instead reactivated economy. |
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