IMF to begin review Egypt's loan programme on Tuesday
Nov 04, 2024
Cairo [Egypt], November 4: Egyptian Prime Minister Mostafa Madbouly announced Sunday that the International Monetary Fund's (IMF) fourth review of Egypt's loan programme is scheduled for Tuesday.
This came during a press conference on Sunday in the presence of the Managing Director of the IMF Kristalina Georgieva.
Georgieva noted that Egypt's inflation reached 37 percent in 2023 but has decreased to between 25 percent and 26 percent.
She emphasised that Egypt is generating more job opportunities through the private sector, stressing that the IMF aims to support the prosperity of this sector to create enough job opportunities for the over million young people who enter the labour market yearly.
Additionally, Georgieva projected the GDP growth to reach 4.2 percent in FY2025.
Source: Emirates News Agency
