WB official describes Egypt's economic reforms 'success story'

WASHINGTON - 13 July 2018: Dean of the Board of Executive Directors of the World Bank Mirza Hassan said the World Bank is keen to provide full support for Egypt’s economic and social development plans.

In statements to MENA, Hassan lauded the positive results achieved by the economic reform program currently carried out by the Egyptian government.

Egypt's experience in the economic reform is “a success story,” he said, noting that Cairo has a lot of capabilities that help it implement World Bank-supported programs, both in the official and unofficial sectors.

He noted that the Egyptian government has taken effective steps to alleviate the economic reform measures' negative impacts and protect the low-income segments within the framework of a social protection program.

In the same regard, Hassan commended the Egyptian people’s understanding of the economic reform program requirements, which he said was the cornerstone of the reforms’ success.

Meanwhile, the official said the World Bank is keen to provide technical support for Egypt via studies that target promising sectors with the aim of serving the national economy and increasing the GDP growth rate.