Cairo: Prime Minister Mostafa Madbouly announced during the weekly government meeting that Egypt, in collaboration with the International Monetary Fund (IMF), aims to determine the most effective and comprehensive reform strategies. These strategies are intended to encompass all pertinent dimensions to preserve the “positive results of reforms,” which are expected to positively impact Egypt’s economy.

According to State Information Service Egypt, Madbouly emphasized the government’s commitment to continuing its economic reform programme, implementing necessary measures to achieve its objectives. A significant element of this initiative is the Initial Public Offering (IPO) programme, which aligns with the State Ownership Policy. Additionally, Fitch Ratings has upgraded Egypt’s rating to “B” for the first time in four years, citing a stable outlook. This upgrade is credited to increased foreign currency inflows and the successful execution of recent reforms, especially the adoption of a flexible exchange rate.

Moreover, Madbouly briefed government members on discussions held during President Abdel-Fattah El-Sisi’s meeting with IMF Managing Director Kristalina Georgieva. President El-Sisi emphasized Egypt’s eagerness to continue its collaboration with the IMF in the near term and to build on the progress made. The cooperation aims to enhance economic stability, reduce inflation rates, and address the challenges posed by regional and international crises.

Madbouly also disclosed that the IMF has projected Egypt’s GDP growth rate to increase from 2.4 percent this year to 4 percent in 2025.