The Managing Director of the International Monetary Fund, Kristalina Georgieva, stressed that Egypt has shown unprecedented strength during this unprecedented time in the region.
Georgieva met with Egyptian President Abdel Fattah al-Sisi and Prime Minister Mostafa Madbouly, where she explained at a press conference at the headquarters of the Egyptian Council of Ministers in the Administrative Capital that economic reform is difficult, but its results are a stronger economy for Egypt. Inflation in Egypt is declining with plans to reach 16% by the end of the year. She highlighted that inflation in Egypt is falling to 26% and there is a tendency to reduce it to 16% by the end of the fiscal year.
Egypt faces major economic challenges with the implementation of a joint economic reform program with the International Monetary Fund, the value of which amounted to $ 8 billion. The program raises questions about its impact on Egyptians, especially low-income groups.
