Cairo – Mubasher: Egypt foresees economic growth rate of 7% following securing the expected IMF loan, said Omar EL Garhy, Minister of Finance.
Earlier, Egypt said it reached an initial agreement with the International Monetary Fund regarding a $12 million loan.
The IMF statement noted that this agreement is subject to approval of the IMF’s executive board, which is expected to consider Egypt’s request in the coming weeks.
“The loan comes in the framework of a fiscal reform program that Egypt adopts,” said EL Garhy.
