Cairo: Prime Minister Mostafa Madbouli has announced that an International Monetary Fund (IMF) delegation will visit Egypt from December 1 to 12 to conduct the fifth and sixth reviews of the economic reform program. He highlighted that recent private-sector indicators demonstrate improved confidence, with a 73% rise in private investments compared to last year and a continuous increase in foreign reserves.
According to State Information Service Egypt, Madbouli, during a weekly press conference following the Cabinet meeting in the New Administrative Capital, stated that first-half fiscal indicators are progressing as planned, with several targets already exceeded. He mentioned that growth figures for the first quarter of FY 2025/2026 will soon be announced and are anticipated to reflect strong performance.
Madbouli also reviewed recent developments in the energy sector, noting that discoveries in the Western Desert and the Mediterranean are supporting efforts to boost domestic production and reduce import needs. Additionally, technology exports are projected to surpass USD 9 billion annually before 2030.
The Prime Minister described the installation of the first reactor pressure vessel at the El Dabaa Nuclear Power Plant, attended by President Abdel Fattah El Sisi and Russian President Vladimir Putin, as a significant step towards completing the four-reactor facility by 2029. The plant's capacity of 4,800 MW is expected to save Egypt USD 2-3 billion annually in fuel costs and provide stable power generation.
Madbouli highlighted President El Sisi's inauguration of new projects at East Port Said, stressing that the developments demonstrate how the Suez Canal region has become a focal point for global investors due to its infrastructure and strategic location. He also attended the delivery ceremony of 265 kilograms of gold from the Public Prosecution to the Central Bank, adding USD 34 million to reserves, along with an additional USD 10 million from stored consignments.
The Prime Minister welcomed the World Health Organization's certification of Egypt as free of trachoma, noting it as part of broader health-sector achievements, including the elimination of hepatitis C. He expressed pride in the progress of Al-Fustat Hills Park, transforming an area once known for waste dumps into a major urban green space, with a completed project set for inauguration by President El Sisi in early January 2026.