Egypt’s economy to grow by 5.9% in 2025-26

Cairo, The Gulf Observer: The IMF expected Egypt’s economy will grow by 5.9% in 2025-26, adding that Egypt’s budget revenues in the current fiscal year are expected to reach about 1.6 trillion pounds, increasing to 1.9 trillion pounds in the next fiscal year, to reach 2.2 trillion pounds in the next fiscal year 2024-25.

In a statement, the IMF expected Egypt’s economy will grow by 4% in the 2022-23 current fiscal year (FY), 5.3% in the fiscal year 2023-24.

The IMF stated the loan agreement reached with Egypt aims to stimulate economic growth led by the private sector, stabilize the foreign exchange market and maintain price stability to absorb external shocks.

IMF expects Egypt’s economy to grow by 5.9% in 2025-26

In December 2022, Egypt has reached a 46-month staff-level agreement with the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) to receive a loan worth about $ 3 billion.

The IMF projected the annual core inflation rate to decrease by 7% by the fiscal year 2024-25 and the State budget will achieve 2.1% surplus of GDP.

The head of the International Monetary Fund’s mission in Egypt, “Ivana Vladkova Hollar,” affirmed that the fund stands ready to support economic reforms and efforts to curb inflation in Egypt.