CAIRO: Egypt is ready to leave the financial crisis behind – as well as the food crisis before that – and move forward with reform, Prime Minister Ahmed Nazif said Wednesday
The country needs to focus on four sectors: education, health care, energy and transportation, he said during the closing speech of the Euromoney Egypt Conference.
“If I had to choose one area to focus on, it would be education, he specified.
Another critical item on the government’s agenda is job creation for low income groups, he said, and one way that can be done is by developing the outsourcing industry. But while Egypt is among the top 10 outsourcing destinations in the world, there are still challenges to face, Nazif said.
On the government’s privatization plans, Nazif hoped to quell popular fears by saying, “This government never talked about privatization in terms of getting rid of national assets.
And touching on another sensitive topic, he noted Egypt’s “inefficient subsidy system, which has been on and off the table for reform.
Nazif sounded a more optimistic note about the stock market, saying that indicators are still “below the bubble level.