PM: 1st batch of IMF loan arrives in Egypt next week, 2nd of Ras al-Hikma deal in May

Prime Minister Mostafa Madbouly said Saturday 30/03/2024 the first batch of the International Monetary Fund (IMF) loan is scheduled to arrive in Egypt next week, noting the loan was increased from three to eight billion dollars.

During a tour today of a number of factories in the 10th of Ramadan City, Madbouly added the the second batch of the Ras al-Hikma deal is due in May.

The government and the Central Bank of Egypt worked to secure all the dollar needs necessary to relaunch the productive sectors, he said, adding the government priorities are meant to meet the basic needs, production requirements, and raw materials with the aim of advancing the Egyptian economy.

Regarding the price file, the Prime Minister noted that efforts are underway in this regard as price cuts issue was raised during his last session with the Federation of Egyptian Chambers of Commerce (FEDCOC) and supply chains.

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