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Promoting social protection Egypt’s priority since start of economic reforms: IMF

MENA , Saturday 6 Apr 2019
File photo: International Monetary Fund Managing Director Christine Lagarde looks on during an IMF conference in Jakarta, Indonesia February 27, 2018. REUTERS

The International Monetary Fund (IMF) said strengthening social protection for the poor and the neediest has been one of the Egyptian government’s priorities since the start of the economic reform program.

“The authorities have been gradually expanding better-targeted social programs. These include Takafol and Karama— cash transfer programs to the poorest households, the coverage of which has been expanded to more than 10 million people,” the IMF said in a press release about the fourth review of the Egyptian economy’s performance.

The IMF noted that Cairo is taking additional measures to compensate for the impact of the reform program, including “lump-sum public wage bonuses, a 15-percent increase in pensions, and progressive tax credits”.

In the same regard, the statement pointed out to Forsa program that helps create job opportunities, Mastoura program, which helps with microcredit for women, in addition to Sakan Karim, a program that promotes access to clean drinking water and sanitation.

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