Madbouli: Egyptian economy reached record figures with economic reform plan

Prime Minister Dr Mostafa Madbouli said on Sunday 27/1/2019 the government is determined to maintain the gains of the economic reform program which enhance the status of the Egyptian economy, asserting that there are no concerns as regards the future of economic reforms carried out by Egypt.

In a TV interview with CNBC on the sidelines of the World Economic Forum in Davos, Switzerland, Madbouli said the economic reform plan adopted by President Abdel Fattah El Sisi over the past three years has yielded record figures as regards economic growth which hit 5.3% in 2018 and this fiscal the aim is to reach 5.8%.

The most important thing realized is real reform in a number of complicated files such as fuel subsidies and food supply, he said.

Also, an investment-friendly environment has been secured through several adjustments and development measures, he added.

As for Egypt’s cooperation with Apple Co., Madbouli said he met in Davos with the company’s CEO and reviewed promoting cooperation given the fact that the Egyptian market is a large and attractive one.

Apple, however, is present in Egypt through indirect supply agents, he said, adding that they discussed the company’s presence in Egypt as one of its industrial centers and a service base for the entire region.

Source: State Information Service Egypt