{"id":634969,"date":"2018-01-30T04:31:13","date_gmt":"2018-01-30T04:31:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/imf-not-worries-about-impact-of-higher-oil-prices-on-egypts-fiscal-reforms\/"},"modified":"2018-01-30T04:31:13","modified_gmt":"2018-01-30T04:31:13","slug":"imf-not-worries-about-impact-of-higher-oil-prices-on-egypts-fiscal-reforms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/imf-not-worries-about-impact-of-higher-oil-prices-on-egypts-fiscal-reforms\/","title":{"rendered":"IMF not worries about impact of higher oil prices on Egypt\u2019s fiscal reforms"},"content":{"rendered":"

<\/a> The IMF isn\u2019t overly concerned about the impact of higher oil prices on Egypt\u2019s fiscal reforms<\/strong>, according to IMF's Middle East & Central Asia Department Director Jihad Azour. In an interview with Al Shorouk<\/a> on the sidelines of the IMF\u2019s economic conference in Morocco, Azour said fiscal imbalances which could arise from higher oil prices can be counteracted by implementing an efficient tax system and combating corruption. He added that it is too soon to tell what, if any, the impact higher oil prices would have on Egypt\u2019s budget deficit.<\/p>\n

Brent crude continues to hover just cents below USD 60 a barrel <\/strong>this morning after talk in recent weeks from Saudi Arabia and Russia signaling that their production cuts could continue into 2019. Bloomberg<\/a> and OilPrice<\/a> have more on that front.<\/p>\n

Speaking on unemployment<\/strong>, Azour said that MENA region\u2019s unemployment rate stands at 10.6%, which is worrisome considering that 27 mn people will enter the workforce by 2023, and 60% of the region\u2019s inhabitants will be under the age of 30. GDP growth by improving the business climate coupled with increase spending on health and education is the only way to combat this rising unemployment, he added.<\/p>\n

Azour also spoke on the dangers of civil unrest during transitional periods in economic reforms<\/strong> in light of the protests in Tunisia. He defended Tunisia\u2019s adoption of economic reforms, saying that it was heading in the right direction. \u201cAny reform has its transition phase. During the transition phase what is important (is) to make sure they have the right mitigators, the right social programmes,\u201d Azour said, according to Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF isn\u2019t overly concerned about the impact of higher oil prices on Egypt\u2019s fiscal reforms, according to IMF's Middle East & Central Asia Department Director Jihad Azour. In an interview with Al Shorouk on the sidelines of the IMF\u2019s economic conference in Morocco, Azour said fiscal imbalances which could arise from higher oil prices […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634969","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"044cf0c3-5a19-43d6-b8aa-729e91112aad","order":"0","is_powered_by":true,"section_story_id":"b69e24a3-7687-40d2-a9ec-b59e9c4ea00b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[634956],"teaser":"","voice_url":""},"yoast_head":"\nIMF not worries about impact of higher oil prices on Egypt\u2019s fiscal reforms - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/imf-not-worries-about-impact-of-higher-oil-prices-on-egypts-fiscal-reforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF not worries about impact of higher oil prices on Egypt\u2019s fiscal reforms\" \/>\n<meta property=\"og:description\" content=\"The IMF isn\u2019t overly concerned about the impact of higher oil prices on Egypt\u2019s fiscal reforms, according to IMF's Middle East & Central Asia Department Director Jihad Azour. 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tells\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650720,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypts-economic-reforms-to-lead-to-slow-but-steady-improvements-moodys\/","url_meta":{"origin":634969,"position":3},"title":"Egypt\u2019s economic reforms to lead to slow but steady improvements -Moody\u2019s","author":"enterpriseam admin","date":"30 March 2017","format":false,"excerpt":"Moody\u2019s believes the pace of economic reforms in Egypt will continue to show gradual improvements but the recovery could be slower than expected, according to an emailed report. \"The implementation of the IMF program's targets, including reductions in fiscal deficits and government debt levels, as well as improvements in 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