The IMF said that amid ongoing multiple geopolitical tensions in the region, the economic outlook for the region, including Egypt, remains difficult and the fallout from the conflicts in Gaza and Israel and trade disruptions in the Red Sea continues to negatively impact sentiment and cause significant declines of up to 70% in… cent in revenues from the Suez Canal, which is an important source of foreign currency for Egypt.
He continued: In addition, the increasing number of refugees adds to the financial pressures on public services, especially health and education. In light of this difficult external environment, the authorities have implemented major reforms to maintain macroeconomic stability.
The IMF mission headed by Ivana Vladkova Hollar held personal discussions with the authorities during the period from 6 to 20 November in Cairo.
