Arab Finance: The International Monetary Fund (IMF) has cut its forecast for Egypt's real gross domestic product (GDP) growth by 0.5% and 1% for the current and next fiscal years (FYs) 2024/2025 and 2025/2026, according to January’s World Economic Outlook Report.

The global organization now expects Egypt's real GDP to hit 3.6% in FY 2024/2025 and 4.1% in FY 2025/2026.

In October's projections, the IMF anticipated that Egypt would manage inflation at a faster rate during the current FY 2024/2025, with inflation forecasted to drop to 21.2%.

Egypt is expected to receive a new tranche worth $1.2 billion from the International Monetary Fund (IMF) in January.

In December, The IMF and the Egyptian government reached a staff-level agreement on the fourth review of the Extended Fund Facility (EFF).

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