Maj. Gen. Abu Bakr al-Gendy، head of the Central Agency for Public Mobilization and Statistics (CAPMAS)، said that economic reform decisions، taken by the Egyptian government، have been positively reflected on economic conditions only one year after they were applied. He confirmed that all economic indicators of reform are currently witnessing a significant improvement.
In his speech in the “Social Protection Forum” held today Sunday، the CAPMAS’s head said that although 700،000 persons entered the labor market، inflation rates are still high.
He stressed that the Central Agency for Public Mobilization and Statistics (CAPMAS) reviews data and statistics on a daily basis، noting that such data and statistics are available to all Egyptians.
The head of the Central Agency for Mobilization and Statistics (CAPMAS) said that when the government took economic reform measures، it was well aware of its impact on the low-income people ، and implemented several social protection programs targeting these groups.
The economic reform program announced by the government in agreement with the IMF aims to gradually lift subsidies on energy، water and electricity، reduce the budget deficit، cut public spending، restrict allocations for social justice in the new budget and impose new taxes on citizens to increase revenue.