Subir Lall
The IMF mission described Egypt's structural program in the tourism sector as a good model from which other countries could benefit.
Lall added that foreign reserves hit good levels and public debt is declining as a result of public financial management.
Subir Lall said that the Egyptian economic situation is not bad, as all countries are clearly suffering a rise and change in prices.
The economic reform program launched by the Egyptian government contributed to the stability of the macro economy, as the budget deficit shrunk significantly, Subir Lall said.
The IMF praised the improvement of the Egyptian economy on financial and monetary policies.
Inflation should go down steadily over the next year and into single digits by 2019," Lall said.
The IMF's team said the staff-level agreement on the second review reaffirms the Egyptian authorities’ commitment to their reform program.
In a meeting with Minister of Industry and Foreign Trade, IMF Mission Chief praised the government’s efforts to develop the manufacturing and trade sectors.
Governor of the Central Bank of Egypt (CBE) Tarek Amer will also meet Lall during his three-day visit.
