Egypt has been enacting reforms like cuts in energy subsidies, introduction of a smart card system to administer rationing of food subsidies and broadening the tax base to diminish the government deficit from 10.2% to 10.5% for the fiscal year to about 8% to 8.% in fiscal 2018 to 2019. [Egypt Lures Foreign Investors]
“Our economy is going to be stabilized and progressing based on structural reforms — real ones,”Dimian added.
Market Vectors Egypt Index ETF
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Max Chen contributed to this article.