Egypt’s president backs bigger private role in line with IMF demands

CAIRO, 30 December 2022, (TON): A cabinet statement said “Egypt’s President Abdel Fattah El-Sisi approved a document outlining 62 economic activities the state will withdraw from and turn over the private sector.”

The document’s approval was required by the International Monetary Fund, which this month approved a 46-month, $3 billion financial support package for Egypt.

The policy aims to give the private sector a greater role in helping to grow the economy, create jobs and increase investment and exports, the statement said.

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