Current IMF program will be Egypt’s last loan, Prime Minister declares

Prime Minister Mostafa Madbouly announced that Egypt will not require a new program from the International Monetary Fund (IMF) beyond its current arrangement, anticipating that the existing program will be the nation’s final loan from the global fund by 2026 or 2027.

During the government’s weekly press conference, Madbouly said that the IMF imposes no conditions on Egypt but rather serves as a “certificate of trust” in the Egyptian economy. He highlighted the government’s detailed plan – extending to 2030—aimed at achieving economic independence, with a strong focus on bolstering the private sector’s role and ensuring sustainable economic growth.

Regarding recent economic performance, Madbouly highlighted several positive trends: the Egyptian economy achieved a solid 3.9 percent real growth rate during the first half of the 2024/2025 fiscal year. Inflation has seen a significant decline, reaching 13.9 percent in April 2025, a notable reduction from 37 percent just a year prior. Furthermore, the budget deficit narrowed to 6.5 percent.

Madbouly also noted a 17 percent surge in foreign direct investments and a robust 33 percent increase in non-petroleum exports over the initial nine months of 2024. The unemployment rate has also dropped to an unprecedented low, falling below seven percent—the lowest in Egypt’s recorded history.