Writer: Hussein Cheaito
After more than a year and a half of implementing the IMF program, the Egyptian economy continues to grapple with instability, weak financial health, and rising debt. Economic growth has decelerated significantly, with projections for the 2023-2024 fiscal year initially set at 5.3% but later revised downward to just 3%. Austerity measures along with increased public service prices threaten to push millions more Egyptians into poverty. In March 2024, the IMF amended the program to increase the loan amount from three to eight billion dollars, alongside other sources of funding.
To read the full article: click here
Disclaimer: Except for articles published on Blog Tadamon and the content of the resource pages, all materials on this website, including their respective photographs, are indexed from their original sources. All rights remain with the respective copyright holders.
Comments are closed, but trackbacks and pingbacks are open.