Egypt's financial indicators improving, says IMF

Financial indicators in political turmoil-hit Egypt greatly improved in the run-up to the presidential poll currently underway, according to the International Monetary Fund (IMF).

Masoud Ahmed, an official of the IMF, said that financial indicators in the North African country greatly improved in recent months after progress was made on the political roadmap and the process of political transition, which provides more stability, according to Egypt's State Information Service.

Ahmed asserted that the IMF believed for a long time that the best solutions for issues such as energy subsidy must be "gradual" and not "sudden", and pointed out that the imbalance that prevailed during the last 30 years cannot be repaired in just three months and needed a reasonable period of time.