Cairo: Prime Minister Mostafa Madbouly announced that despite an anticipated increase in fuel prices, the government will continue to provide subsidies, with allocations of EGP 75 billion for fuel and another EGP 75 billion for electricity in the current budget. He emphasized that although subsidy levels are being reduced, they will not be completely eliminated, allowing for the reallocation of funds to essential sectors such as healthcare, education, and the 'Decent Life' initiative.

According to State Information Service Egypt, Madbouly, speaking at a press conference following the weekly cabinet meeting, stated that the government's economic reform program was developed nationally with the aim of fortifying Egypt's economy. He mentioned that the International Monetary Fund (IMF) has acknowledged Egypt's achievements in reducing inflation and enhancing foreign reserves. However, he noted that the timing of the IMF's next review remains under discussion due to regional developments, stating, "We agree with the IMF on specific targets, but implementation timelines may shift based on changing circumstances."

Madbouly confirmed Egypt's commitment to its IMF-backed reform plan. He added that a delegation, including the central bank governor and the ministers of finance and planning, will attend annual meetings with the fund in the next two weeks.