ICEC

Gas and power reserves are sufficient until 2026; Egypt’s Premier says

Egyptian Prime Minister Sherif Ismail announced Thursday that state’s reserves of electricity and gas are sufficient until 2026.

During his meeting with editors-in-chief of national newspapers, the Premier stated that government’s current main goal is to lower budget deficit to 11 percent.

About the loan from the International Monetary Fund (IMF), Ismail added Egypt and the IMF agreed on a number of procedures that the government would follow within the current period

Ismail noted that the IMF loan would fill part of Egypt’s financing gap which is estimated at 35 billion Egyptian pounds.

He added that the government is currently following the Egyptian Economic Reform Programme in addition to the IMF loan.

In case that Egypt did not receive the IMF loan, the government would adopt a number of reforms in taxes system, Premier Ismail pointed out.

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