IMF Staff Country Reports-Arab Republic of Egypt: Selected Issues-continued

January 23, 2018--UNLOCKING HIGHER AND MORE INCLUSIVE GROWTH1
Like some other emerging market economies, Egypt faces the challenge of raising growth and creating more jobs to improve the living standards of its young and growing population. The analysis in this paper shows that past growth was characterized by a suboptimal allocation of the factors of production and a lack of dynamism in the private sector.
By identifying the main constraints to private sector-led growth and higher employment generation, it suggests policies to further shift Egypt's economic model towards increased private sector participation and integration into global value chains. To this end, reforms should aim at removing the distortions to the optimal allocation of resources in the economy and equip the labor force with the skills needed to benefit fully from future job opportunities. These reforms would also help better integrate women and youth into the job market. The authorities have embarked on a reform program to address these challenges and important steps have already been taken. Improved macro-stability and a strong political commitment to reforms present an opportunity to further structural reforms that intensify private sector-led growth and job creation and strengthen trade integration.

view the IMF Staff Country Reports-Arab Republic of Egypt: Selected Issues

Source: IMF


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