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IMF Executive Director: Reforms Persist Despite Shocks
The article focused on the continuation of economic reforms in Egypt despite regional and geopolitical challenges. The Managing Director of the International Monetary Fund (IMF) confirmed that Egypt has successfully implemented monetary, fiscal, and structural policies, as inflation rates decreased from about 40% to 15%, and foreign exchange reserves rose to $56.3 billion. Interest rates were lowered by 825 basis points. Additionally, Egypt achieved a primary surplus exceeding 4% of GDP, reduced its debt to around 78% of GDP, and the unemployment rate fell below 6%. The results reveal the strength of the Egyptian economy and the sustainability of its reform efforts, despite shocks and difficult conditions in the region.
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