U.S. Chargé d'Affaires in Cairo praises Egypt’s economic program

CAIRO – 13 November 2017: Thomas H. Goldberger, Chargé d'Affaires of the U.S. Embassy in Cairo, said in statements to Egypt Today Monday that his country believes the latest economic reform measures taken by the government positively affected Egypt’s economic statistics.

He added that more positive results and impacts for these economic decisions will be shown clearly soon enough. “The American investors are waiting for more good investment opportunities in Egypt during the coming days,” Goldberger said.

Furthermore, Goldberger affirmed that investors from all around the world face difficulties. “It’s normal; however, they all have to find their ways out of these difficulties to continue their business,” he added.

Regarding the current diplomatic crises in Lebanon and its escalations, Goldberger affirmed that his country is strongly supporting Lebanon’s sovereignty and independence, as they totally refuse any political interference from other countries or governments.

November marks the first anniversary of taking several ambitious economic decisions by the government. Backed by a $12 billion three-year loan agreement with the International Monetary Fund (IMF), the state had implemented a set of reforms that include the pound’s flotation, the introduction of the VAT and subsidy cuts.

Among the positive signs reflecting that the program is on the right path was the recovery of foreign currency inflows and foreign reserves. Exports also boomed, as the industrial sectors have witnessed notable development in that regard, with GDP figures growing steadily over the year.