International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, said that the tensions in the Middle East region affected the Egyptian economy, as it lost 70% of Suez Canal revenues due to the Gaza war.

Georgieva added in response to questions from Youm7 during a press conference held in Washington that Egypt is implementing important economic reforms.

She said that she will visit Egypt within 10 days to review the economic indicators and the nature of the economic situation in light of the regional and global changes that have affected the Egyptian economy.

Recently in October, the IMF has changed its economic projections for Egypt, anticipating a recovery in the country’s GDP to 4.1% for FY2025/2026, a significant increase compared to its FY2024/2025 forecast of 2.7%.

The fund revealed that Egypt recorded a real GDP of 3.8% in FY2023/2024, 1.1% higher than the IMF's earlier projection of 2.7% in July.

In the IMF’s latest World Economic Outlook report, the IMF highlighted concerns about the current account balance, expected to reach -6.6% in FY2024/2025 and -6.4% in FY2025/2026.

Inflation continues to pose a significant challenge, with consumer price inflation recorded at 24.4% in FY2023/2024, while the IMF projects a rise to 33.3% in FY2024/2025 before declining to 21.2% in FY2025/2026.