CAIRO - 2 November 2024: The International Monetary Fund (IMF) will begin the fourth review of Egypt's economic reform program next Tuesday, according to Prime Minister, Mostafa Madbouly, during a press conference held today in Cairo with the Managing Director of the IMF, Kristalina Georgieva.
By completing this review, the IMF will disburse a $1.3 billion tranche, which represents the largest of the various tranches.
At today’s press conference, Georgieva projected that Egypt’s economy would grow by 4.2 percent during FY2024/2025, driven by government-led reforms.
These efforts, which include bolstering the private sector’s role in job creation and strengthening social protection programs, are expected to support steady economic growth.
She expected Egypt to reduce inflation rates to 17 percent over the coming period.
She underscored the IMF's appreciation for Egypt's efforts over the past phase, acknowledging the government's commitment to implementing robust measures aimed at bolstering economic stability.
In a global economy facing multiple shocks, she affirmed that Egypt has created a safer environment, emphasizing the importance of such stability for long-term prosperity.
Georgieva praised Egypt’s progress in economic reform, highlighting her positive meeting with President Abdel Fattah El-Sisi.
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