Egypt to finalise post-IMF national economic programme by end-Sept – PM

Egypt expects to complete a national economic programme outlining its strategy beyond the current International Monetary Fund (IMF) programme by the end of September, Prime Minister Moustafa Madbouly said on Thursday.

Madbouly said the government was putting the final touches on a comprehensive economic strategy that will guide policy after the IMF-supported reform programme concludes.

“We aim to complete the national economic programme by the end of September,” Madbouly told a press conference.

He said the plan would include several economic scenarios extending through 2030, setting out the government’s vision for sustaining economic growth, preserving macroeconomic stability, and advancing structural reforms over the medium term.

Madbouly said the programme would serve as a national roadmap for economic policymaking beyond the current IMF arrangement while taking into account global and regional economic developments.

Egypt is implementing an IMF-supported economic reform programme that includes commitments on exchange rate flexibility, fiscal consolidation, and measures to strengthen the role of the private sector. The government has said the programme has helped improve macroeconomic stability while supporting efforts to attract investment and secure external financing.

The IMF’s Executive Board was due to meet on Thursday to consider the seventh review of Egypt’s programme. Madbouly said Egypt expected to receive a $1.7 billion disbursement next week if the review is approved.

Attribution: Amwal Al Ghad English