18 September 2020 02:49 PM

Germany hails Egypt's successful economic reform program

Saturday، 12 January 2019 - 10:16 AM

Germany's Vice Chancellor and Finance Minister Olaf Scholz has hailed the success achieved in the Egyptian economic reform program.

Scholz was speaking during a meeting with Egyptian Prime Minister Mostafa Madbouli in Berlin on Friday, saying he is happy with what he heard from Madbouli about measures taken to protect the most needy people.

The Egyptian premier, for his part, appreciated Berlin's support for Cairo in implementing the national reform plan, noting fruitful outcome Egypt has started to gain from it.

He cited the increase of the foreign exchange reserves with the Central Bank of Egypt to unprecedented rates. He also told the German vice chancellor about the economic growth rate, which has hit 5.3% and is expected to range between 5.6 and 5.8% in 2019.

Madbouli asked Scholz to support resuming the second package of a joint debt swap program.


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