The Egyptian Cabinet announced the International Monetary Fund’s approval of a financing program for comprehensive national reform.
The Council affirmed that the approval of the program is an additional confirmation of the support of the international community.
and development partners for the Egyptian economic reform program.
It also reflects confidence in Egypt’s capabilities to fulfill its international obligations and its ability to achieve the targeted economic growth rates.
program agreed upon between the executive management of the fund and the Egyptian state, represented by the “government.
and the Central Bank of Egypt,” regarding the comprehensive, four-year Egyptian national economic reform program, which will be supported.
by the “International Monetary Fund” by providing an extended credit facility to the Egyptian state.
The agreement approved by the fund’s board of directors and the accompanying financing will allow the Egyptian authorities to obtain an additional external financing package through a variety of international.
and regional institutions, as well as through global financial markets.
The Egyptian comprehensive and national economic reform program aims to enhance macroeconomic stability .
and ensure the sustainability of public debt in the medium term, and work to enhance the Egyptian economy’s resilience, resilience, and ability to face external shocks.
Egyptian government aims to work on the continuation of fiscal discipline efforts represented in achieving an annual primary surplus in the general budget.
As well as working to return the path of government indebtedness to the GDP in declining, reaching levels of less than 80% of the GDP in the medium term.