PM welcomes IMF review approval, says decision reflects confidence in Egypt's economy

CAIRO - 31 July 2026: Prime Minister Mostafa Madbouly welcomed the International Monetary Fund's (IMF) approval of the seventh review under Egypt's Extended Fund Facility (EFF) and the second review under the Resilience and Sustainability Facility (RSF), describing the decision as a renewed vote of confidence in the country's economic reform program.

 

The IMF's Executive Board approval enables Egypt to immediately receive $1.77 billion in financing, including $1.5 billion under the EFF and $272 million through the RSF.

 

Madbouly said the IMF's assessment confirms that Egypt has strengthened its ability to withstand external shocks, noting that the country entered the recent Middle East conflict from a stronger macroeconomic position than during previous periods of regional instability.

 

He said the Fund praised the government's policy response, including exchange rate flexibility, energy price reforms, and fiscal discipline, which helped contain the impact of regional developments and preserve macroeconomic stability.

 

The prime minister also highlighted the IMF's positive assessment of Egypt's economic performance, noting that real GDP grew by 5 percent in the third quarter of FY2025/26, with growth averaging 5.2 percent during the first nine months of the fiscal year. The Fund expects Egypt's economy to grow by around 4.6 percent for the full fiscal year.

 

Madbouly said the IMF also pointed to the resilience of Egypt's external sector, supported by record remittances, strong tourism revenues, and the gradual recovery of Suez Canal income, alongside healthy international reserves.

 

He added that the Fund recognized Egypt's strong fiscal performance, citing higher-than-targeted primary surplus and tax revenues, as well as continued progress in reducing financing needs.

 

The prime minister said the government's priority remains advancing structural reforms, expanding the private sector's role in the economy, implementing the State Ownership Policy, accelerating the privatization program, and improving the investment climate to support sustainable economic growth.