IMF: Egypt Takes Important Steps to Avoid Financial Risks
Egypt is taking important steps to avoid financial risks, said Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.
Speaking before the 7th Arab Fiscal Forum, currently, in session in Dubai, Georgieva added that fighting against inflation remains a priority for world countries in 2023, expecting it to decline from 8.8% in 2022 to 6.6% this year and 4.3% in 2024, according to “State Information Service” website.
As the global economy slows, growth is also expected to drop in the Middle East and North Africa—from 5.4% in 2022 to 3.2% this year before ticking up to 3.5% in 2024, she added.
Public debt is a particular concern, with several economies in the region facing elevated debt-to-GDP ratios—some close to 90%, she further said, according to the IMF’s website.
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