9 positive indicators among the reasons for Egypt's success in disbursing the last tranche of the IMF loan

Policy

The approval of the International Monetary Fund [IMF] for the final tranche of a $ 12 billion loan is a testament to the success of the economic measures taken by Egypt in the last few years. The IMF has agreed on a number of reasons given by the IMF mission to Egypt:

1. Egypt's GDP growth accelerated from 4.2% in 2016 – 2017 to 5.3% in 2017 – 2018.

2. The unemployment rate fell from 12% to less than 9%.

3. The current account deficit shrank from 5.6% of GDP to 2.4%%..

4. Egypt's commitment over the last three years to implement an ambitious national program for economic reform.

5. Egypt's goal is to correct the large external and internal imbalances, promote growth and contain jobs.

6. The IMF mission expected total government debt to fall to about 85% of GDP in 2018-2019.

7. The rise of the monetary reserve to $ 44 billion in March 2019 made Egypt more resilient in the face of rising uncertainty in the external environment and internal fluctuations.

8. Inflation cut from 33% in July 2017 to 13% in April 2019.

9. Achieve a cumulative improvement in the first surplus of 5.5% of GDP.