Egyptian Prime Minister, Sherif Ismail, stated in a meeting with editors-in-chief of national newspapers, that Egypt’s strategic reserves of gas and electricity are sufficient to address domestic demand till 2026. The government is currently focusing its efforts on achieving a main goal to lower the country’s budget deficit to 11%, reported Amwal Al Ghad.

Ismail added that during talks with the International Monetary Fund’s (IMF)  delegation to Egypt, in early August, the government agreed to various procedures for the current period, with the aim of addressing Egypt’s financing gap of EGP 35b. He concluded that the country’s economic and tax reform programs, together with the IMF loan, will help revive the economy to close budget deficits and bring in new investments.