The official spokesman for the Egyptian Presidency, Ambassador Ahmed Fahmy, said in a statement, “The meeting discussed developments related to the implementation of the Egyptian economic reform program, which is being carried out in partnership with the Fund.”
During the meeting he said: Sisi that “Egypt He looks forward to completing cooperation with the Fund during the coming period, and building on what has been achieved with the aim of enhancing the stability of economic conditions and reducing rates Inflation“.
Al-Sisi pointed out “the need to take into account the changes and the magnitude of the challenges that Egypt has been exposed to in the recent period due to the regional and international crises, which had a profound impact on dollar resources and budget revenues.”
The statement stated that Sisi “stressed that the state’s priority is to relieve pressures and burdens on citizens, especially by combating inflation and high prices, while continuing efforts to attract investments and empower the private sector to increase employment and growth rates.”
The statement quoted Georgieva as saying that she “expressed her deep appreciation for the efforts of the Egyptian state during the last stage, and the reform program that is being carefully implemented while putting the most needy groups at the top of priorities.”
The statement stated that the Director General of the International Monetary Fund “praised the progress made by macroeconomic indicators despite the unprecedented challenges in the current period, which are indicators that were reflected in the positive outlook of international credit rating institutions, the raising of Egypt’s credit rating, and the increase in investments.”
The Director of the International Monetary Fund affirmed her full understanding of the magnitude of the great challenges facing Egypt in light of regional and international developments, noting that the Fund is seeking – in partnership with the Egyptian government – to reach the best reform paths that take into account all relevant dimensions, and in a way that preserves the results of reforms that have a positive impact. On the Egyptian economy, especially at the level of improving the overall indicators of the economy, and enhancing growth and development efforts, driven mainly by the growth of the private sector, stressing the Fund’s full agreement with the importance of more focus on combating inflation and taking measures to reduce it, according to what was stated in the Egyptian presidency statement.
