Thursday 19/March/2026 – 06:47 PM
He said International Monetary FundEgypt has so far succeeded in relatively containing the economic repercussions it has suffered as a result of the war on Iran.
IMF: Egypt has relatively contained the shock to its economy resulting from the war
International Monetary Fund spokeswoman Julie Kozak said in a press conference held on Thursday that Egypt has taken proactive, timely and well-coordinated measures to deal with the conflict in the Middle East and its economic impact.
Kozak explained that the flexibility of the country’s exchange rate allowed its currency to absorb shocks in the face of external pressures, and helped Egypt maintain its foreign currency reserves and international reserves.
Kozak added that Egypt carefully balances the need for financial discipline and the need to support vulnerable families by directing social spending towards these families.
The cost of Egypt’s energy imports has more than doubled since the outbreak of war, putting great pressure on the state’s finances.
Egypt suffers from high debt, and interest payments alone accounted for nearly half of government spending during the current fiscal year.
