The Information and Decision Support Center at the Council of Ministers prepared a document to respond to the most prominent issues raised regarding cooperation between Egypt and the International Monetary Fund, including 50 questions and answers in this regard, which included the reasons that prompted Egypt to conclude an extended facilitation agreement for 46 months, with a value of 3 billion US dollars, with the IMF. International, with the aim of building on the previous economic gains achieved by the Egyptian economy from implementing the first phase of the economic reform program (2016-2019), and supporting the efforts of the Egyptian state in implementing the second phase of the national program for economic and social reform, which aims to increase economic growth rates and encourage investments, And stimulate export levels and create more job opportunities, noting in that context the impact of the negative repercussions of crises that negatively affected the global economy, such as the “Covid-19” pandemic, and the current Russian-Ukrainian crisis, stressing that the two previous programs for Egypt with the International Fund in The years 2016 and 2020 had a significant impact on controlling public finances, reducing public debt, adopting a flexible exchange rate policy, reforming energy subsidies, and providing fiscal space. m for social spending.
The government explains the reasons for the agreement and the gains it achieves for Egypt
goals of the new programme
The reasons for the agreement and the gains it achieves for Egypt
The document indicated that Egypt’s new program with the fund aims to achieve an annual primary surplus in the general budget, diversify financing sources, improve the efficiency of revenues and spending in the public budget, work to increase spending on human development, and continue expanding funding for social protection programs.
The document referred to the measures that have been taken to enhance the role of the private sector in the economic reform program, as the Council of Ministers, during its weekly meeting, on November 30, 2022, approved the final version of the state ownership policy document, which aims to further enhance the participation of the private sector in economic activity, and provide a climate supportive of national and foreign investments; This confirms the desire of the Egyptian state and its institutions to encourage and attract the private sector to increase its investments and its strong presence in the Egyptian market, and to increase its strong contribution to economic growth during the coming period.