Egypt's economic growth is forecast at 4% in the 2024/25 fiscal year and inflation is expected to fall below 15%, the International Monetary Fund's mission chief for the country said on Tuesday.
In comments to reporters, Ivanna Vladkova Hollar added that talks between the IMF and the Egyptian government about access to climate transition financing from the Fund's Resilience and Sustainability Facility (RSF) would continue in the autumn.
In March, Prime Minister Mostafa Madbouly said the country would seek about $1.2 billion from the RSF.
Egypt can already draw $820 million from its latest 46-month IMF $8 billion loan program after the fund said on Monday it had completed its third review.
Approved in 2022 and expanded this year, the loan program followed an economic crisis marked by high inflation and severe foreign currency shortages.
Hollar said boosting tax revenue was a priority reform issue that would be discussed during the program's fourth review.
"Egypt needs tax resources to be able to spend on priority needs, that is a priority reform that we will be discussing at the time of the fourth review," she said.
Under the program, the outstanding reviews will take place every six months until autumn 2026, with each disbursement currently scheduled at about $1.3 billion, Hollar said in April.
