After the IMF loan, Egypt is awaiting $3 billion from the World Bank. Egypt expects to achieve a primary surplus of no less than 3.5% in the fiscal year that begins on July 1.
The minister's statements came four days after Egypt reduced the value of its currency to about 50 pounds to the dollar from 30.85 pounds. The rapid developments in the Egyptian economy come against the backdrop of the investment deal that Egypt reached with the UAE in late February to establish a tourist urban complex in Ras El Hekma.