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IMF says Egypt’s real GDP growth forecast at 4% in 2024/25

The IMF and the Egyptian government will continue negotiating the country’s access to a Resilience and Sustainability Facility (RSF) in the autumn.
31.07.24 | Source: Middle east monitor


Egypt’s real GDP growth is forecast at four per cent in the financial year 2024/25, and inflation is expected to fall below 15 per cent in the fiscal year that ends on 30 June, the head of the International Monetary Fund’s Egypt Mission told journalists today, Reuters has reported.



The IMF and the Egyptian government will continue negotiating the country’s access to a Resilience and Sustainability Facility (RSF) in the autumn, which Egypt is eligible for, added Ivanna Vladkova Hollar.


Egypt has been seeking a separate loan. In March, Prime Minister Mostafa Madbouly said that it would be around $1.2 billion, from the RSF, which promotes climate transition financing. According to Hollar, the discussions about that request will continue separately.


The regime in Cairo could already draw $820 million from its latest 46-month IMF $8bn loan programme after the fund said on Monday that it had completed its third review.


The programme was approved in 2022 and expanded to $8bn this year following an economic crisis marked by high inflation and severe foreign currency shortages.


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