Cairo: Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva projected on Sunday that Egypt's GDP growth will reach 4.2 percent during this financial year, compared with 2.4 percent last FY. Georgieva shared this projection during a joint press conference with Egyptian Prime Minister Mostafa Madbouly, emphasizing the role of the private sector in creating new job opportunities. She highlighted the IMF's commitment to supporting the prosperity of the private sector to ensure adequate employment in the labor market. According to Kuwait News Agency, Georgieva also addressed Egypt's inflation challenges, noting that the inflation rate, which peaked at 37 percent in 2023, has now decreased to a range of 25-26 percent. The goal is to further reduce inflation to 16-17 percent by the end of the financial year. The IMF reiterated its commitment to stability and financial development in Egypt, referencing its decision last April to increase the loan program from three billion US dollars to ei ght billion dollars. Egyptian Prime Minister Mostafa Madbouly expressed his gratitude for the partnership with the IMF. He acknowledged the IMF's support for Egypt's financial reform plans and national projects. Madbouly also called on all governments to manage the global challenges to achieve success and economic growth.
