CAIRO, Feb 10 (MENA) - Representatives of the International Monetary Fund (IMF) and the World Bank said Egypt's economy is capable of achieving growth and addressing economic hardships, despite the impacts of regional and international challenges.

Speaking at a symposium organized by the American Chamber of Commerce in Egypt (AmCham Egypt) on Monday, Alex Segura-Ubiergo, the IMF's Resident Representative in Egypt, said the economic reforms introduced by the Egyptian government have enhanced the national economy's capacity to deal with the repercussions of regional and international crises.

He highlighted the stability of Egypt's macroeconomic indicators, lauding the Egyptian government's determination to pursue economic reforms and implement social protection programs.

Ubiergo stated the Egyptian government is working to adjust financial and monetary policies to ensure the success of economic reforms and reduce inflation rates, noting the country has opportunities to increase GDP growth, through attracting more investments by the private sector.

On his part, Stefan Gimbert, the World Bank's Regional Director for Egypt, Yemen and Djibouti, said the Egyptian economy has the potential to grow in the next two years.

Gimbert added that continuing to implement economic reforms will contribute to improving the investment climate and creating more jobs in Egypt, underlining the important part played by the private sector in raising economic growth rates and providing job opportunities. (MENA)

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