Egypt - Economic Governance and Energy Support Program II

The Economic Governance and Energy Support Program II (EGESP II) is the second phase in a programmatic series of three consecutive general budget support (GBS) operation covering the period 2015 – 2017. This second phase aims to support the implementation of the government's medium-term development agenda aimed at building a strong foundation for inclusive and self-reliant economic growth. Consistent with this goal, EGESP II aims specifically, to: (i) advance fiscal consolidation by deepening reforms that would further enhance government revenues rationalize or improve efficiency of its expenditures (notably the wage bill) and improve fiscal transparency and management; (ii) enhance the sustainability of energy supply by deepening reforms to further improve governance in the power and gas sectors, reforming subsidies and rationalizing of tariffs; and (iii) improve the business environment by deepening reforms in the areas of investment regime and facilitation, industrial licensing, competition and financial inclusion.