The International Monetary Fund mission reviewing Egypt’s reform program has lauded the country’s recent progress in investment and trade, noting that discussions with officials in Cairo are taking place in a “positive and constructive atmosphere.”
The delegation said Egypt’s economic vision has become “clearer and more coherent,” and that the government’s ongoing measures reflect a serious commitment to restoring confidence and attracting high-value investment.
The statements were made during a meeting between the IMF mission and Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khateeb, as part of the Fund’s fifth and sixth reviews under the joint cooperation program. The meeting covered recent macroeconomic developments and the financial, institutional, and trade reforms currently underway.
El-Khateeb expressed strong confidence in the progress of the two reviews, emphasizing that the Egyptian economy is “moving in the right direction,” with several indicators outperforming earlier expectations set under the IMF program. He said the recent results reflect the strength of government actions and their capacity to deliver “tangible, measurable outcomes.”
The minister stressed that the government is implementing a clear and disciplined reform strategy aimed at strengthening macroeconomic stability, expanding the role of the private sector, and improving the investment climate. He noted that trade system upgrades and institutional reforms are crucial to accelerating sustainable growth and enhancing the competitiveness of Egyptian products.
El-Khateeb highlighted Egypt’s shift toward a more open and effective trade policy designed to boost production capacity, expand market access, and deepen the integration between trade and investment. The strategy aims to position Egypt as a regional hub for exports and supply chains, reduce the trade deficit, and raise the value added of local industries.
He also reviewed progress on digital transformation, describing it as a central pillar in modernizing the business environment. The government has expanded digital licensing platforms and systems for economic entities, ensuring faster, clearer procedures for investors and improving transparency and efficiency across administrative bodies.
The minister confirmed that Egypt is actively implementing a wide-ranging reform package focused on streamlining procedures, easing non-tax burdens, and enhancing transparency. These reforms aim to create a stable and attractive environment for investors, offering better visibility for long-term planning and expansion.
On its part, the IMF delegation welcomed the pace of reforms and the improving business climate, expressing optimism about the outcomes of the ongoing reviews. The mission emphasized that recent developments provide encouraging signs for Egypt’s economic trajectory under the program.
Follow the latest news on Google News
