{"id":638251,"date":"2017-10-01T04:09:58","date_gmt":"2017-10-01T04:09:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/"},"modified":"2017-10-01T04:09:58","modified_gmt":"2017-10-01T04:09:58","slug":"economic-reforms-drive-stability-el-garhy-tells-euromoney","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/","title":{"rendered":"Economic reforms drive stability, El Garhy tells Euromoney"},"content":{"rendered":"

<\/a> Finance Minister Amr El Garhy wants economic reforms to achieve stability<\/strong>, he told Euromoney in an interview<\/a>. He wants to see Egyptian exports grow, saying that while they are annually in the USD 20 bn region, other peers like Malaysia and Indonesia export ten times the volume. El Garhy also noted that subsidy reform was a necessity: \u201cSubsidies have been one of the things that\u2019s really hurt this economy and hurt the people. They\u2019ve been a massive cost to the country, but the regime back then did not want to increase costs for the people to ensure there was no resentment or backlash\u2026 When you give an absolute subsidy to everyone, without any distinction, you hurt the poor more than the rich, who had two or three cars and can afford it.\u201d Euromoney also pointed out concerns about policy stability, noting that El Garhy is Egypt\u2019s ninth Finance Minister since 2011, and if he lasts until April, he will have been in office for 25 months and will become longest-serving minister since then. El Garhy: \u201cI\u2019m happy to do the job, if they keep me. It\u2019s not my decision. But definitely, I love to serve my country. I will not tell you that it is patriotic when you feel you have the necessary experience to do the job\u2026 It\u2019s challenging, a lot of pressure \u2026 I\u2019m doing this job at a difficult time, when there\u2019s a need for economic reform.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Minister Amr El Garhy wants economic reforms to achieve stability, he told Euromoney in an interview. He wants to see Egyptian exports grow, saying that while they are annually in the USD 20 bn region, other peers like Malaysia and Indonesia export ten times the volume. El Garhy also noted that subsidy reform was […]<\/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-638251","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"590b9fc6-a9b6-4806-a1ab-1ad4f77ba084","order":"0","is_powered_by":true,"section_story_id":"bf29d388-4a11-4658-bd13-e04105dffd0d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[638243],"teaser":"","voice_url":""},"yoast_head":"\nEconomic reforms drive stability, El Garhy tells Euromoney - 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\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic reforms drive stability, El Garhy tells Euromoney\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Amr El Garhy wants economic reforms to achieve stability, he told Euromoney in an interview. He wants to see Egyptian exports grow, saying that while they are annually in the USD 20 bn region, other peers like Malaysia and Indonesia export ten times the volume. El Garhy also noted that subsidy reform was […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-01T04:09:58+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Economic reforms drive stability, El Garhy tells Euromoney\",\"datePublished\":\"2017-10-01T04:09:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\"},\"wordCount\":252,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/10\/01\/economic-reforms-drive-stability-el-garhy-tells-euromoney\/\",\"name\":\"Economic reforms drive stability, El Garhy tells Euromoney - 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Speaking yesterday on the first day of Euromoney Egypt (pdf), the minister pointed to the fiscal and economic policy changes since November 2016, including the EGP float and subsidy phase-out program, which he\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":630388,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/19\/how-the-economic-reforms-will-help-rein-in-debt\/","url_meta":{"origin":638251,"position":2},"title":"How the economic reforms will help rein in debt","author":"enterpriseam admin","date":"19 April 2018","format":false,"excerpt":"Egypt\u2019s fiscal reforms in general, and ongoing subsidy cuts in particular, will help keep rising debt from getting out of control, Finance Minister Amr El Garhy tells the Financial Times\u2019 Heba Saleh in an interview on Wednesday. \u201cThe reduction in the overall deficit will be accompanied by a primary surplus\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\/2018\/4\/1822.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639083,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/22\/el-garhy-articulates-reform-agenda-with-the-imf-in-the-ft\/","url_meta":{"origin":638251,"position":3},"title":"El Garhy articulates reform agenda with the IMF in the FT","author":"enterpriseam admin","date":"22 October 2017","format":false,"excerpt":"El Garhy pens op-ed for Financial Times ahead of IMF delegation\u2019s visit this week: Finance Minister Amr El Garhy summed up the mammoth tasks of reforms over the last two years and the IMF\u2019s role in it in a cogent piece he penned for the Financial Times on Friday. 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