Egypt’s gross domestic product (GDP) will reach 5.2% during 2018, up from 4.2% in 2017, according to new IMF projections.
The IMF’s May 2018 Regional Economic Outlook report also forecasts the Egyptian economy to grow by 5.5% during 2019.
The report said the optimistic outlook for the Egyptian economy was partly due to an increase in natural gas production.
“One of the reasons for the growth is the expansion of long-term national projects due to sustainability, not only due to the anticipated hike of gas production,” emerging market specialist Abdel-Rahman Taha told Xinhua news.
Egypt will receive the fourth $2 billion installment of its $12 billion IMF loan in June or July 2018, Deputy Finance Minister Ahmed Kouchouk said in late 2017, according to Al Mal News.
Kouchouk said that an IMF mission will visit Egypt in May to conduct the third review its economic reform program.
Egypt will have received $8 billion from the IMF following the disbursal of the fourth installment.