Egypt has met 90% of IMF programme targets; FinMin says

Egypt has successfully met or exceeded roughly 90 per cent of the key targets set under its International Monetary Fund (IMF) programme, Finance Minister Ahmed Kouchouk said Wednesday.

Speaking at a weekly press briefing with Prime Minister Moustafa Madbouly, Kouchouk said the targets include the primary fiscal surplus, tax revenues, debt management, and social protection spending. “All targets were implemented with high quality according to IMF standards,” he said.

The minister added that the government has fully completed 12 of the 14 structural reforms outlined in the programme, including initiatives to improve energy efficiency, expand social safety nets like Takaful and Karama, enhance tax and customs administration, and increase transparency in semiannual financial reporting.

Kouchouk said the latest review, which combined the fifth and sixth programme assessments along with a resilience and sustainability review, yielded positive results and paved the way for IMF-related funding. He emphasised that the government will continue efforts to stimulate economic activity, simplify procedures, expand production and exports, and generate new investment and job opportunities, while ensuring citizens are shielded from additional financial burdens.

Attribution: Amwal Al Ghad English