Pedestrians walk past a foreign currency exchange bureau decorated with US one dollar banknotes in Cairo (file). Egyptian authorities plan to curb public-sector wage growth next year in an attempt to reduce the country’s budget deficit. Officials may also reduce transport subsidies, according to two people briefed on the plan during an investor conference call with central bank governor Tarek Amer on Tuesday. The people spoke on condition of anonymity to discuss the details of the call. Amer also said that the central bank’s foreign-currency reserves have exceeded the target agreed upon with the IMF, the people said, in a boost for efforts to restore confidence in an economy hit by years of turmoil.
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