"A message of reassurance" reflects the Egyptian economy's ability to enhance economic stability, achieve financial and development targets, and enhance social protection programs.

• The state's public finances showed cohesion and flexibility in the face of global and regional economic challenges.

 

• Good indicators for budget performance during the past fiscal year and ambitious indicators for the current year despite unfavorable external pressures and conditions.

 

• Committed to continuous work to reduce the rate and burdens of debt to GDP in the medium term according to an integrated strategy.

 

• Financial policies aim to create sufficient spaces to increase spending on health, education, and social protection and reduce burdens on citizens.

 

• Continuing structural and corrective economic reforms so that the private sector leads the locomotive of development and economic growth.

 

• Improving the business climate as well as tax and customs system to stimulate investment flows to the private sector and enhance its contributions to the Egyptian economy.

 

• We expect to receive the third tranche of the economic reform program worth $820 million within the coming days.

 

 

Minister of Finance, Ahmed Kouchouk confirmed that the approval of the Board of Directors of the International Monetary Fund for the third review within the framework of the economic reform program is a "Certificate of Confidence" in the Egyptian government's program, including its financial and economic reforms and targets, and a "Message of Reassurance" that reflects the Egyptian economy's ability to enhance economic stability, achieve financial and development targets, and enhance social protection programs, explaining that we expect to receive the third tranche of the economic reform program worth $820 million in the coming days.

 

After the approval of the Board of Directors of the International Monetary Fund for the third review within the framework of the economic reform program, the Minister said that the state's public finances have shown cohesion and flexibility in facing global and regional economic challenges related to geopolitical tensions and their related negative repercussions that extend to rising prices of goods and services in a sharp inflationary wave as a result of disruption of supply chains, increased financing costs, and continued uncertainty in international markets.

 

The Minister added that the Egyptian government was able to achieve good indicators for budget performance during the past fiscal year, and started the current fiscal year with ambitious indicators despite the economic pressures and unfavorable external conditions that affect the local economic situation, noting that we are committed to continuous work to reduce the rate and burdens of debt to the GDP in the medium term according to an integrated strategy.

The Minister pointed out that financial policies aim to create sufficient spaces to increase spending on health, education and social protection and reduce the burdens on citizens, explaining that we are continuing with structural and corrective economic reforms so that the private sector leads the locomotive of development and economic growth, as we aim to improve the business climate and the tax and customs system to stimulate investment flows to the private sector and enhance its contributions to the Egyptian economy.