Egyptian President Abdel Fattah El-Sisi indicated on Sunday that Cairo may have to reevaluate the expanded loan program if international institutions do not take into account the exceptional regional challenges facing the country.
It requires a financial package that you signed Egypt with IMF In March, subsidies on fuel, electricity, and other goods were reduced, and the Egyptian currency was allowed to move according to the determinants of supply and demand.
The Fund said on Thursday that it is working with the Egyptian authorities on what needs to be done to expand the scope of social protection programs and ensure their effectiveness.
Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund, said in a press briefing, “This issue will be one of the priority issues that will be raised and discussed by the Director of the Fund… the effectiveness of social protection programs.”
Azour stressed the importance of Egypt maintaining the flexibility of the exchange rate.
This month, the International Monetary Fund expected in its report on global economic prospects that Egypt’s economy would grow by 4.1 percent in 2025.