Maait explained that the new budget focuses on balancing between mitigating inflationary pressures experienced by citizens, meeting development needs, and maintaining financial discipline
Goldman Sachs economist, Farouk Soussa indicated that estimates suggest the ministry received approximately EGP 240 billion from the initial tranche of the Ras El Hekma deal with the UAE
Maait explained that by the end of June 2024, Egypt is expected to receive $1 billion from the World Bank, € 1.07 billion from the European Union, in addition to $820 million from the International Monetary Fund (IMF).
Egypt already obtained $820 million from the IMF, as a result of the completion of the first and second reviews, Maait added.
Over the past six years, Egypt has been able to achieve financial discipline and budget targets, as it succeeded in achieving a primary surplus averaging 1.3% of GDP.
