The International Monetary Fund (IMF) has predicted that Egypt's economy will grow by 4 percent in the current fiscal year 2024-2025. The IMF forecasts that inflation in Egypt will fall below 15 percent by the end of June.
The fund approved the third review of the Egypt program, which allows the government to immediately withdraw about $820 million. He announced that macroeconomic conditions have begun to improve since the approval of the first and second revisions of the program last March, calling for the need to maintain a flexible exchange rate and liberalize the foreign exchange system.
Egyptian Finance Minister Ahmed Kajouk stressed that the approval of the IMF Board of Directors for the third review within the framework of the economic reform program is a "message of reassurance" that reflects the ability of the Egyptian economy to enhance economic stability, achieve financial and development goals, and enhance social protection programs.
Source (Al Arabiya.net Website, Edited)
