Egypt finance minister reviews with Fitch officials outcomes of economic reforms

Egyptian Finance Minister Mohamed Mait has reviewed with officials from Fitch Ratings Agency the outcomes of implementing the economic reform programme in Egypt.

The meeting took place on the sidelines of meetings of the International Monetary Fund (IMF) and the World Bank in Indonesia, the finance ministry said in a statement on Thursday.

Mait affirmed that economic stability and the confidence of international institutions and markets in Egypt have been restored.

A large amount of money has been saved under programmes for rationalising energy consumption and reforming public expenditures, he said, noting that the saved money has gone to social programmes and public investments.

Mait also held talks with his South Sudanese counterpart on boosting investments as well as the establishment of a joint ministerial committee to further bilateral cooperation.

The minister will participate later in the day in meetings of the IMF, finance ministers and governors of Arab central banks.

During the meetings, Mait will review the economic growth rate and means of balancing expenditure, inflation and interest rates.