Cairo’s economic reform program has regained momentum just as it enters a critical phase. Parliament’s approval of the 2026-27 budget on 22 June has reinforced the government’s commitment to fiscal consolidation, while a string of long-awaited privatization deals removed one of the main obstacles to the next IMF disbursement under Egypt’s $8bn Extended Fund Facility (EFF).

The timing is significant. After spending much of the past two years battling inflation, a chronic foreign currency shortage and mounting external debt obligations, Egypt has gradually stabilized its position following the March 2024 currency float, the expansion of its IMF program and the landmark $35bn Ras El Hekma investment deal with the UAE (MALE, 6 June 2025). (CONTINUED - 2101 WORDS)

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