More energy reforms needed, IMF tells Egypt
The Egyptian economy continued to improve in 2018, according to the organisation, but further measures are needed
In 2016, the International Monetary Fund agreed to help Egypt's economy recover from years of crisis by providing it with disbursements totaling $12bn. The deal was conditional on the government reducing subsidies on basic goods and services, including sources of energy. Fuel subsidies, according to the IMF, have represented "an important share of budget spending in the past, contributing to increased deficits and debt, and crowding out spending on education and health". The IMF, in its latest review of the Egyptian economy, praised the government's performance since the loan programme began, saying that its "fiscal consolidation plan remains on track". But it also wrote that there's still
Also in this section
30 January 2026
As KPC deepens international partnerships, expands capacity and builds on breakthrough offshore success, Shaikh Nawaf S. Al Sabah says oil interdependence—not self sufficiency—will define the energy system for decades to come
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
