## Statement by IMF Managing Director Christine Lagarde on Egypt

_IMF News, January 25, 2019_

## Source details

**Canonical URL:** [Statement by IMF Managing Director Christine Lagarde on Egypt](https://www.imf.org/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt)

## Other formats

- [Markdown version](/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt/index.md)
- [Structured JSON version](/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt/index.json)
- [Bundle manifest](/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt/bundle-manifest.json)

## Bibliographic details
- Published: January 25, 2019

---

### Overview of progress and macroeconomic stabilization
- Egyptian authorities embarked on an ambitious economic reform program in 2016 that is being supported by an IMF financial arrangement.
- Since 2016, Egypt has made substantial progress as evident in the success achieved in macroeconomic stabilization.
- Key outcomes highlighted:
  - Growth rate is now among the highest in the region.
  - The budget deficit is on a declining trajectory.
  - Inflation is on track to reach the Central Bank of Egypt’s target by the end of 2019.
  - Unemployment has declined to around 10 percent, which is the lowest since 2011.
  - Social protection measures have been expanded.

### Policy recommendations and priorities
- Continue to build on progress and press ahead with structural reforms that:
  - Facilitate private sector-led growth and job creation.
  - Increase transparency and accountability to help improve governance.
- Objective: attain higher and more inclusive growth and ensure better living standards for all Egyptians.

### IMF program status and next steps
- The IMF staff team has finalized the details required to present the fourth review for Egypt’s Extended Fund Facility arrangement to the IMF’s Executive Board.
- The Board will meet in the coming weeks to discuss the review.
- Christine Lagarde will recommend that the Board approve the review.
- The Fund stands ready to help achieve a more prosperous future for Egypt.

### Administrative and press information
- Press Release No. 19/18
- January 25, 2019
- IMF Communications Department
- PRESS OFFICER: Randa Elnagar
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org

*Statement by IMF Managing Director Christine Lagarde on Egypt, January 25, 2019.*

---


## References

- [Christine Lagarde](https://www.imf.org/en/About/senior-officials/Bios/christine-lagarde)
- [Arab Republic of Egypt and the IMF](http://www.imf.org/external/country/EGY/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2019/01/25/pr1918-statement-by-imf-managing-director-christine-lagarde-on-egypt_