Minister of Finance Dr. El-Morsy Hegazy said Egypt is moving in the right direction towards overcoming its economic crisis thanks to its highly efficient human resources who are capable of pushing forward production to recover economic growth rates.
This came at a meeting held by Hegazy with US ambassador in Cairo Anne Patterson who was keen to meet the minister to congratulate him for holding his post.
The meeting reviewed the developments of the economic situation, and progress of talks with the International Monetary Fund and the Egyptian US relations.
The minister hailed the friendly relations between the Egyptian and US peoples, adding the transition period through which Egypt is passing will be completed with democratic transformation.
The minister said a mission of the International Monetary Fund will arrive in Cairo soon to resume consultations on the 4.8 billion dollar loan to Egypt. He said the agreement focuses on economic and social reform programs drawn up by the government with the aim of mitigating the burdens of limited income citizens.
For her part, the US ambassador renewed full U.S support for Egypt, referring to numerous opportunities before businessmen and companies in both countries to develop joint economic relations, increase investments and develop trade and businesses in different fields.
The US ambassador said Egypt has promising economic potentials which could enable it to overcome the current problems. The ambassador renewed her country’s support for the Egyptian government to reach an agreement with the IMF and overcome its economic and financial problems.