World Bank Country Director for Egypt, Yemen and Djibouti Asad Alam was Lamees El Hadidy’s guest on Hona El-Assema last night. Alam said the government reform drive will create jobs, boost exports and attract investments. Key takeaways from the interview (watch; runtime: 24:51):

• The high inflation rates which came after the EGP float will be a short-term phenomenon;
• 2017 will be better in terms of growth and job creation. The director observed palpable changes in the markets: “Now I am seeing locally produced goods, whereas before I was only seeing imported products.”
• “We support the government’s strategy for the energy and transportation sectors,” but Egypt still needs investment in the infrastructure sector.
• “I’m happy that the government submitted a draft investment law to parliament to improve the business climate…but the issues facing investors should be addressed faster than that to make it easier to do business.”
• Social safety net programs, such as World Bank-funded Karama and Takaful, are crucial to fighting poverty.
• Education system needs to produce graduates with skills business needs.

No cabinet shuffle (thank you, very much): Ismail cabinet spokesperson Ashraf Sultan threw cold water on talks of a cabinet shuffle in a call-in to 90 Minutes’ Moataz El Damardash. Sultan also denied that the government was considering raising the minimum wage to EGP 1,500 per month from a current EGP 1,200 (watch; runtime: 3:16).

Still no Daba’a contracts: Yahduth fi Masr’s Sherif Amer spoke to Electricity Ministry spokesperson Ayman Hamza who told him that the government will be signing the agreement for the Daba’a nuclear power plant with Russia’s Rosatom “in the first few months of this year.”

Kol Youm’s Amr Adib showcased a report about the deteriorating conditions of the textile sector in Egypt. (Watch: runtime: 3:35). Industry insiders tell Kol Youm reporters that the industry is working at 10% capacity. The report blames the float for hindering imports of raw material.