Ahmed Kamel – Egypt Daily News
The International Monetary Fund has outlined a new timeline for upcoming program reviews tied to its financial support for Egypt, making clear that the release of additional funding will depend on the government’s progress in implementing agreed economic reforms.
According to a recent IMF report, the seventh and eighth reviews under Egypt’s Extended Fund Facility program, along with the second and third reviews of the Resilience and Sustainability Facility, are scheduled in the coming months. These assessments are expected to unlock a total of $3.3 billion in two equal tranches, provided Cairo meets key policy commitments.
The seventh review is set for June 15, with the potential disbursement of $1.65 billion, including approximately $136 million under the sustainability-focused facility. A final review, scheduled for November 15, would release an additional $1.65 billion, contingent on continued reform progress.
The IMF emphasized that access to these funds will remain strictly conditional on the timely and effective implementation of structural and fiscal reforms agreed upon with Egyptian authorities. These measures are aimed at stabilizing the economy, improving public finances, and enhancing the role of the private sector.
Earlier this year, the IMF approved the fifth and sixth reviews of Egypt’s program expanded in 2024, allowing for the immediate release of $2.3 billion. The broader support package includes $8 billion under the Extended Fund Facility, in addition to $1.3 billion through the Resilience and Sustainability Facility.
Despite ongoing economic challenges, Egypt has shown signs of recovery. The country’s economy grew by more than 5.3 percent during the first half of the 2025–2026 fiscal year, according to Planning Minister Ahmed Rostom. The growth has been driven by improved performance in both productive and service sectors, reflecting a gradual rebound in economic activity.
The government is targeting an annual growth rate close to 5 percent for the current fiscal year, which runs from July 1 to June 30, up from 4.4 percent recorded in the previous year.
Looking ahead, the IMF projects strong gains in key sources of foreign currency earnings. Tourism revenues are expected to rise steadily, reaching $28.7 billion by the 2030–2031 fiscal year, compared to an estimated $19.9 billion by the end of the current fiscal year. The sector’s recovery is seen as a cornerstone of Egypt’s broader economic outlook, supported by increased visitor numbers and continued investment in infrastructure and services.
Similarly, revenues from the Suez Canal are forecast to grow significantly, reaching $9.5 billion by 2030–2031. This marks a substantial increase from projected earnings of $4.2 billion in the 2025–2026 fiscal year, reflecting expectations of improved global trade flows and stabilization in maritime activity.
The IMF’s latest assessment underscores both the opportunities and risks facing Egypt’s economy. While growth indicators point to a gradual recovery, the pace of reform implementation will remain the decisive factor in securing continued international financial support and maintaining macroeconomic stability.
