Egypt’s economic reform program reaping its benefits, Ghanem says

Egypt is reaping the benefits of the Ismail government’s economic reform program, and the gains are clearest in the return of foreign investments and the increase in foreign reserves, World Bank MENA Vice President Hafez Ghanem said yesterday in an interview with ON Live. Further progress is contingent on continued inflows of investment that creates jobs and makes a dent in the unemployment problem — as well as on improving the country’s education system. Ghanem hinted that Egypt’s ranking in the World Bank’s Ease of Doing Business index will reflect positive developments such as the availability of FX following the EGP float. He also had plenty of nice things to say about the progress on the WB-funded rural sanitation project, including the high speed of implementation. You can watch the interview in full here (runtime 47:30).