Egypt’s finance ministry confident of passing IMF reviews amid promising economic indicators

Speaking during a panel hosted by the Canadian-Egyptian Business Council in Cairo, Kouchouk emphasized that Egypt’s economic trajectory remains on solid ground. “The indicators are very reassuring, and we are cautiously optimistic about the figures,” he said. “We will successfully pass both the fifth and sixth reviews.”

The comments follow the IMF’s recent decision to merge the fifth and sixth reviews of its loan programme with Egypt. Kouchouk described the move as “the best decision,” explaining that the sixth review would comprehensively assess Egypt’s economic performance for the full fiscal year ending in June 2025.

The IMF arrangement is part of Egypt’s broader structural reform programme, aimed at enhancing fiscal sustainability, curbing inflation, and restoring macroeconomic stability following several years of economic shocks, including the global pandemic and external debt pressures.

Kouchouk also revealed that the Egyptian government plans to issue $4 billion in long-term, concessional international debt during the current fiscal year. The move is part of a larger strategy to restructure public debt and expand access to low-cost financing.

Preliminary data from Egypt’s previous fiscal year budget reportedly show a primary surplus exceeding 3.5% of GDP. Tax revenues have also seen a robust 35% year-on-year growth, according to the Deputy Minister.

Despite the positive signals, Kouchouk made it clear that there are currently no plans for launching a new social protection package. “There is no intention to roll out a new social protection initiative at this stage,” he said.

Egypt’s upcoming fiscal milestones are seen as critical benchmarks in its ongoing engagement with the IMF and international creditors