Arab Republic of Egypt: 2021 Article IV Consultation, Second Review Under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt

July 22, 2021

Preview Citation

Format: Chicago

Arab Republic of Egypt: 2021 Article IV Consultation, Second Review Under the Stand-By Arrangement-Press Release; Staff Report; and Statement by the Executive Director for the Arab Republic of Egypt, (USA: International Monetary Fund, 2021) accessed September 18, 2024

Summary

The economic and social impact of the COVID-19 pandemic over the past year has been well-managed by the authorities. Timely and prudent fiscal and monetary easing shielded the economy from the full brunt of the crisis, while alleviating the health and social impact of the shock. Sound economic policies helped deliver macroeconomic stabilization, safeguard debt sustainability, and preserve investor confidence. While growth is expected to rebound in FY2021/22, the outlook is still clouded by uncertainty related to the pandemic and the pace of vaccinations. High public debt and large gross financing needs leave Egypt vulnerable to external shocks or changes in financial market conditions for EMs. Near-term fiscal and monetary policies should thus continue to support the recovery without accumulating undue imbalances.

Subject: Budget planning and preparation, Climate finance, Environment, International organization, Monetary policy, National accounts, Public debt, Public financial management (PFM), Revenue administration

Keywords: Budget planning and preparation, CBE's inflation target, Climate finance, Consumer price index inflation, End-March monetary policy Consultation clause, Financial asset, Financing gap, Global

Publication Details

Pages:

108
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/163
Stock No:

1EGYEA2021002
ISBN:

9781513592046
ISSN:

1934-7685

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