Egypt begins drafting post-IMF national economic program
via Egypt Today2 min read
Prime Minister Mostafa Madbouly chaired a meeting to outline an implementation plan for President Abdel Fattah El-Sisi鈥檚 directives to develop a national economic program for the period following the completion of Egypt鈥檚 reform program with the International Monetary Fund. The proposed program is expected to set the framework for a new phase of economic development, reflecting Egypt鈥檚 national priorities and long-term objectives. A joint working group comprising representatives from the government, the Central Bank of Egypt, and other relevant authorities is preparing the program to ensure coordination between fiscal, monetary, and broader economic policies. Once finalized, the program will be submitted to President El-Sisi before its official announcement. Cabinet spokesperson Mohamed El-Homsani said the meeting reviewed the program鈥檚 main priorities, targets, and policy framework, emphasizing the importance of close cooperation between the government and the Central Bank. Officials also examined the experiences of countries that previously completed IMF-backed reform programs to help Egypt develop a national framework based on global best practices while considering the structure of the Egyptian economy and the country鈥檚 development priorities. The program will build on the National Structural Reform Program, the National Narrative for Comprehensive Development, and Egypt Vision 2030. Madbouly directed officials to present the program in clear and accessible language for t
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Prime Minister Mostafa Madbouly witnessed the signing of a memorandum of understanding between the Alexandria Port Authority and the Montenegro Ports Authority during Montenegro鈥檚 President Jakov Milatovi膰鈥檚 official visit to Egypt. The agreement, signed by Alexandria Port Authority Chairman Vice Admiral Ehab Salah and Montenegro Ports Authority Chairman Stanko Dretic, aims to enhance bilateral cooperation in maritime transport and logistics. Key areas of collaboration include port management and operations, digital transformation, knowledge exchange, capacity building, and environmental sustainability. The MoU also outlines plans to explore new maritime connections between Egyptian and Montenegrin ports to strengthen supply chains and support trade and investment. Officials noted that the strategic locations of Egypt on the Mediterranean and Montenegro on the Adriatic could establish a significant maritime and logistics corridor linking European markets with the Middle East and North Africa. This partnership aligns with Egypt's ongoing efforts to modernize its port infrastructure and position itself as a regional hub for transport, logistics, and transit trade, while also supporting the Alexandria Port Authority's goal to expand international cooperation and improve the global competitiveness of Egyptian ports.
Egypt has officially become one of the top 10 favorite travel destinations for Uzbek tourists, with approximately 26,000 Uzbeks visiting the country in the first half of 2026, according to Uzbek statistics. Uzbekistan's Ambassador in Cairo, Mansurbek Kilichev, described this as a remarkable achievement, highlighting the growing closeness between Egypt and Uzbekistan. Uzbek visitors are attracted by Egypt's beach resorts, hospitality, and the deep cultural, historical, and spiritual ties between the two peoples. Kilichev noted that Uzbek tourists appreciate Egyptian hospitality and enjoy visiting historic landmarks such as the Pyramids and Luxor. The increase in tourism reflects the strong friendship and constructive dialogue between the leaderships of both countries, which has facilitated smoother travel. Tourism growth is supported by an extensive air network, including direct and charter flights connecting Tashkent to Cairo, Sharm El-Sheikh, and Hurghada. Kilichev expects the number of Uzbek tourists to rise further by the end of 2026, viewing tourism as a bridge for cultural exchange and new opportunities for trade and economic partnerships. The embassy is committed to supporting travel partners to maintain this positive momentum. The top 10 preferred destinations for Uzbek tourists include Kyrgyzstan, Kazakhstan, Tajikistan, Russia, Saudi Arabia, Turkey, the United Arab Emirates, China, Egypt, and Vietnam.
Stephen Haines, US Assistant Secretary of Commerce for Industry and Security, stated that the United States aims to build a long-term strategic partnership with Egypt in artificial intelligence. Speaking at the US Innovation and Artificial Intelligence Forum in Cairo, Haines praised Egypt's efforts in prioritizing high-value-added growth sectors, especially information and communications technology. He noted Cairo's promising market, qualified workforce, advanced digital infrastructure, and strategic location connecting Africa, the Middle East, and Europe as key factors. Haines explained that the US Department of Commerce is working to enhance American industry's competitiveness by supporting exports and ensuring fair market access, with AI being a central focus. He emphasized that AI is now a cornerstone of national economies, impacting manufacturing, healthcare, energy, cybersecurity, and defense, and that countries leading in AI will have significant global economic influence. Haines mentioned that US President Donald Trump has set a goal for the United States to lead the global AI race, with a plan focusing on accelerating AI development, strengthening US infrastructure, and leading international diplomacy and security in this field. He affirmed that AI exports are crucial for maintaining US technological leadership, with the US seeking to deploy cloud computing services, intelligent models, cybersecurity tools, and AI-based applications worldwide, including in Egypt. The