IMF talks expected to move smoothly amid positive economic indicators: Madbouly
Updated 12/4/2025 8:43:00 AM
Arab Finance: Prime Minister Mostafa Madbouly said he expects discussions with the International Monetary Fund (IMF) mission to move forward smoothly, pointing to recent improvements in Egypt’s economic indicators, as per a statement.
Speaking at the weekly press conference, he said the mission arrived two days ago to begin the fifth and sixth reviews and has already met the Minister of Finance and the Governor of the Central Bank of Egypt (CBE).
Madbouly stated that the indicators are developing in line with the government’s plans and that several indicators have performed better than the targets set with the IMF.
On economic policy, the Prime Minister said the government is updating the State Ownership Policy Document, whose initial three-year period ends this December.
Work is under way with the relevant entities to finalize the revised version by next March, after which it will be released for public consultation.
He reiterated the government’s focus on tax incentives as part of ongoing efforts to support investment and strengthen the role of the private sector.
The first phase of these incentives was implemented last year, while the second phase, explained during the press conference by Minister of Finance Ahmed Kouchouk, is scheduled for introduction this year.
Madbouly highlighted the mining sector as another area of priority, noting continued announcements related to oil and gas exploration.
He referred to the Ministry of Petroleum and Mineral Resources’ recent introduction of new incentives to encourage investment in mining, particularly in rare earth minerals.
He said the coming period will include a new geological survey using updated surveying technologies to identify areas with high mineral potential and noted his ongoing follow-up with the Minister of Petroleum on the plan’s implementation.
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