Page 11 - EGYPT - En Vol.4 HD

E gypt
Snapshot of E gypt 9
In April 2021, Egypt launched the second phase of the "Economic National Economic Reform Program
Reform Program". This phase focuses on structural reforms which

extends for a period of three years starting from the completion of First Phase Second Phase
Keeping the gains of the fiscal and
first phase, which aimed to address the imbalances of monetary and Encouraging private sector-led monetary policy reforms that began in
fiscal policies. The second phase targets the real sector for the first growth, rebuilding international 2016 till present, strengthening social
protection, reforming the subsidy
reserves, and reducing public
time with structural reforms. The reforms will contribute to boost system, and focusing on the economic
deficit. Its objectives include: reforms carried out in the first phase. Its
resilience of the Egyptian economy, raising its ability to absorb objectives include:
external and internal shocks, and transforming the course of the Achieving macroeconomic Furthering the Egyptian economy’s
Egyptian economy into a productive economy with competitive stability resilience by resorting sectoral
diversity
advantages, which would support its ability to achieve balanced and
Implementing structural reforms to Raising its ability to absorb external
sustainable growth.
the business environment and internal shocks
• The main pillar of the second phase is to increase the relative Adopting social programs to protect Transforming towards to a productive
weight of the manufacturing, agriculture, telecommunications the vulnerable and low-income economy with competitive
population advantages
and information technology sectors. These sectors were selected

according to several criteria, foremost of which are the ability for Reform program encompasses a package of policies that affect
productivity levels. The main seven policies are to:
rapid growth; the relative weight of the sector; labor endowment;
Reform the structure of
sectoral interrelations; international competitiveness, and the Restructure the labor
the economy market
ability to generate added value.
Libralize trade Localize products and deepen
local industrialization

Reform the vocational
training system Develop the education
sector
Develop capital markets