Lagarde praises Egypt’s commitment to economic reforms

IMF Managing Director Christine Lagarde praised the Egyptian government’s commitment to the economic reform program in an interview with Al Shorouk yesterday. Lagarde said that reforms are already beginning to bear fruit, with inflation levels expected to cool to around 12% in 2018 and FDI projections looking up thanks to improvements on the security front. New investments translate to higher tax revenues and income for the state, she also said, adding that Egypt’s current GDP growth rate of over 5% is higher than the regional average.