Egypt Population Surge Must Be Met with Job Growth, IMF Says
- Egypt’s biggest challenge is creating jobs for youth: Lipton
- Government must press ahead with cutting costly subsidies
This article is for subscribers only.
Egypt needs to embrace policies that strengthen the private sector and promote job growth in order to cement the gains realized from sweeping economic revival efforts, the International Monetary Fund said.
At the same time, the government can’t afford to delay in moving ahead with cuts in costly energy subsidies or risk straining the budget at a time of higher global oil prices, David Lipton, the IMF’s first deputy managing director, said late Saturday. The comments, to an audience that included Finance Minister Amr El-Garhy, came as an IMF mission is conducting the third review for the $12 billion loan program it granted Egypt in 2016.