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AfricaSeptember 1 2015

The fiscal route to a fairer Egypt

Egypt's recovery from a period of economic, social and political upheaval is now well under way and, says minister of finance Hany Kadry Dimian, a new fiscal policy is playing a key role within this comeback, while also ensuring that all sections of society feel its benefits.
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Egypt has taken significant steps over the past two years to rebuild political stability and restore confidence in its economic potential. The first two stages of the political roadmap announced in July 2013 – the ratification of a new constitution by referendum in January 2014 and presidential elections in May 2014 – were smoothly and successfully conducted. The final phase to elect a new parliament should be concluded before the end of 2015.

The return to normality that these developments represent after an extended period of political stress and uncertainty has opened up a new chapter of opportunity for the country. Critically, this has given the current government room for manoeuvre to enact the tough structural reforms that have long been recognised as necessary to develop a strong economy – but that no previous government has had the will to see through.

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