More energy reforms needed, IMF tells Egypt
The Egyptian economy continued to improve in 2018, according to the organisation, but further measures are needed
In 2016, the International Monetary Fund agreed to help Egypt's economy recover from years of crisis by providing it with disbursements totaling $12bn. The deal was conditional on the government reducing subsidies on basic goods and services, including sources of energy. Fuel subsidies, according to the IMF, have represented "an important share of budget spending in the past, contributing to increased deficits and debt, and crowding out spending on education and health". The IMF, in its latest review of the Egyptian economy, praised the government's performance since the loan programme began, saying that its "fiscal consolidation plan remains on track". But it also wrote that there's still
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