Egyptian Streets
Egypt is not seeking a new financing arrangement with the International Monetary Fund (IMF) once its current program expires later this year, Prime Minister Mostafa Madbouly said on Thursday, 4 June, during a cabinet meeting. Addressing reporters after the Cabinet’s weekly meeting, Madbouly said cooperation with the IMF remains on track and that the existing program is expected to conclude in December without the need for immediate negotiations on a successor agreement. The Prime Minister used the briefing to outline key economic priorities for the coming fiscal year, including a package of tax breaks and property-related incentives aimed at attracting new investment and supporting private-sector activity. The government hopes the measures will encourage both local and international businesses to expand operations in Egypt. Madbouly pointed to recent economic indicators as evidence of resilience, noting that growth has reached 5.3 percent despite continued geopolitical tensions across the region. He also highlighted the relative stability of Egyptian debt markets, arguing that investor confidence has remained intact even during periods of heightened regional conflict. The government’s new budget will place greater emphasis on social services and industrial development, according to Madbouly. Spending Continue reading "Egypt Does Not Need New IMF Program, Prime Minister Says" The post Egypt Does Not Need New IMF Program, Prime Minister Says first appeared on Egyptian Streets .
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