Prime Minister Mostafa Madbouly announced that the Minister of Investment will share an updated plan for the program by the end of the month.
The Egyptian government has reaffirmed its commitment to moving forward with its privatization program despite current economic challenges. Prime Minister Mostafa Madbouly announced that the Minister of Investment will share an updated plan for the program by the end of the month. This announcement comes as Egypt continues discussions with the International Monetary Fund (IMF) to align on economic reforms and maintain growth.
Madbouly addressed questions about possibly delaying some economic targets during the fourth review with the IMF. He noted that while Egypt's economy has been praised by the IMF and other financial organizations, recent changes, including a regional crisis, have made some targets difficult to meet.
He said that the IMF understands these challenges and is working with Egypt on solutions. “We set our targets with the IMF based on conditions that have since changed,” Madbouly explained. “Now, we are discussing adjustments to avoid putting extra pressure on citizens.”
Egypt’s privatization program aims to strengthen the economy by reducing public debt and attracting foreign investment. Launched as part of larger economic reforms backed by the IMF, the program seeks to increase private sector involvement by selling stakes in state-owned companies. These efforts are meant to improve market efficiency and encourage competition.
