PM chairs ministerial meeting on economic reform measures

Prime Minister Sherif Ismail chaired a ministerial meeting Tuesday to discuss the government's plan of economic reform and future key performance indicators. 

During the meeting, the prime minister reviewed the latest developments of the monetary and financial markets in light of the 2016/2017 budget. 

The ministers discussed ongoing negotiations with the International Monetary Fund (IMF) on supporting the economic reform in Egypt. 

Ismail issued directives to the governor of the Central Bank of Egypt and the minister of finance to jointly continue negotiations with the IMF officials. 

The IMF's financial support is expected to result in $7 billion a year to fund the related projects throughout three years.

The meeting's agenda included a plan to boost reform through diversification of income sources and protect the low-income people from price hikes. 

According to the meeting, the ministers studied measures adopted to lure more bond buyers in international markets.

Source: MENA