• Decreasing the budget deficit to 9.1 percent and reducing public debt to 95 percent of GDP;
• Cutting energy subsidies by 14 percent during the current fiscal year, introducing a 13 percent value-added tax (VAT) and limiting food subsidies;
• Liberalizing Egypt’s foreign exchange policy to strengthen competitiveness, support exports and tourism and attract foreign direct investment, which in turn will foster growth and jobs and reduce financing needs;
• Overhauling the legislative and regulatory environment for investment, including the implementation of a new unified investment law that will significantly reduce bureaucratic hurdles;
• Ensuring social protection for all Egyptians by directing 1 percent of GDP to additional food subsidies, cash transfers to the elderly and low-income families, health insurance for young children and female primary family providers and other targeted social programs, including vocational training for youth; and
• Partially divesting from several state-owned enterprises and banks through public offerings, which, for the first time, will cover public utility companies that have historically been excluded from divesture as a strategic sector.
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