In July, the IMF released its third review of the economic reform program, which, very much like the previous two reviews, was full of praise of the Egyptian authorities for the strong implementation of the economic reform program.
Nonresident Fellows Osama Diab, Timothy Kaldas, and Mohamed El Dahshan discuss the price hikes for the Cairo Metro, electricity, water, and fuel, their connection to the IMF loan, and their effects on Egyptians.
Efforts to control inflation and the budget deficit have led Egypt’s external debt to approach $90 billion—and could ultimately expose the country to risking default.
A television commercial showed beautiful young people walking out on their daily jobs, launching a homemade jam company, a food truck, or a designer furniture store. A voiceover promised that
Throughout June, the Egyptian cabinet and parliament debated a budget for the 2017–18 fiscal year, which began on July 1. The budget has been referred to in Egypt as the