Egypt 

METAC’s resources are available to (i) identify and design measures to strengthen specific aspects of economic and financial management; (ii) prepare detailed implementation plans based on the diagnostic work conducted by IMF-Headquarters; (iii) provide policy and technical advice either by the Center’s resident advisers or by experts from the IMF roster; (iv) organize hands-on training, seminars, workshops to allow for peer-to-peer learning and disseminate good practices; (v) review proposals by governments for consistency with internationally agreed standards, and (vi) coordinate activities with other technical assistance providers.

The restoration of relative political stability since 2014 has given Egypt an opportunity to address its longstanding economic challenges. The authorities’ economic program, supported by the IMF’s Extended Fund Facility arrangement aims to address macroeconomic vulnerabilities and promote inclusive growth and job creation. Among other things, it includes fiscal consolidation to ensure public debt sustainability; strengthening public financial management and fiscal transparency; and enhancing further the soundness of the banking sector and promoting competition. In this context, METAC support to Egypt encompasses:

i) strengthening the Ministry of Finance capacity to manage fiscal risk related to state-owned enterprises and economic authorities;

ii) supporting Egypt Tax Authorities’ efforts to strengthen revenue administration;

iii) enhancing the supervisory capacity of the Central Bank of Egypt; and;

iv) consolidating the sources and compilation procedures for consistent measurement of GDP in the annual and quarterly accounts in the Ministry of Planning, and supply and use tables in the Central Agency for Public Mobilization and Statistics.