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Arab Republic of Egypt: Third Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for a Waiver of Nonobservance of a Performance Criterion and for Modification of a Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt

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  • International Monetary Fund

Abstract

Macroeconomic conditions have continued to improve during 2017/18, with external and fiscal deficits narrowing, inflation and unemployment declining, and growth accelerating. The near-term growth outlook is favorable, supported by the recovery in tourism and rising natural gas production, while the current account deficit has fallen below 3 percent of GDP and gross international reserves stood at 7 months of prospective imports at end-May. Inflation is expected to temporarily rise in 2018/19, reflecting increases in fuel and electricity prices, but the monetary policy stance appears appropriate to contain second-round effects. The government debt ratio is projected to decline markedly in response to fiscal consolidation and high nominal GDP growth.

Suggested Citation

  • International Monetary Fund, 2018. "Arab Republic of Egypt: Third Review Under the Extended Arrangement Under the Extended Fund Facility, and Requests for a Waiver of Nonobservance of a Performance Criterion and for Modification of a Pe," IMF Staff Country Reports 2018/213, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2018/213
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    Cited by:

    1. Melissa Hidrobo & Valerie Mueller & Shalini Roy, 2022. "Cash transfers, migration, and gender norms," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(2), pages 550-568, March.

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