Egypt's Economic Indicators to Improve Starting 2026, Says Cabinet Spokesman

Mohamed El-Homsany, the official spokesman for the Cabinet confirmed that the visit of Kristalina Georgieva, Managing Director of the International Monetary Fund to Egypt showed appreciation for the role of the Egyptian state in dealing with the major economic challenges that the country has faced recently.

El-Homsany explained, during a call-in on Sada El-Balad channel, that the discussions touched on ways to reduce inflation rates and support the trend towards a green economy, which contributes to achieving sustainable development while taking into account global environmental standards.

He added that the Egyptian state has achieved tangible achievements in reducing inflation, reducing external debt, and increasing economic growth rates, in addition to strengthening the role of the private sector, which reflects the government's ongoing efforts to reform the economy and achieve financial balance.

He pointed out that there is an agreement with the International Monetary Fund to extend the period of electricity price increases to be done gradually over four years, with the aim of easing pressure on citizens and ensuring greater financial stability.

Within the framework of the partnership with the Fund, El-Homsany stated that there is agreement between the two sides on the importance of increasing the participation of the private sector in the economy, as it is a basic pillar of economic development and providing new job opportunities.

He stressed that the government and the Fund are committed to not adding new burdens on citizens, while stressing that the difficult reform efforts witnessed in the past years will yield positive results. Egypt is expected to witness the beginning of its exit from the current economic crisis by 2026.

These measures come within the state's strategy to direct the economy towards a more sustainable and flexible path, supported by trends towards the green economy and increasing the contribution of the private sector, which enhances growth opportunities and reduces the burden on the Egyptian citizen who bears the burdens of reform, and prepares to reap the fruits of economic transformation in the near future.