After the World Bank Fund loan.. know the truth about canceling support for citizens

Egypt's negotiations with the World Bank Fund regarding granting a financing loan to Egypt have ended, which caused some rumors about stopping support for citizens.

The Minister of Finance, Mohamed Maait, said that it is not true what is reported about canceling the subsidy in agreement with the International Monetary Fund, explaining that the continuation of support and social protection, and the IMF agrees with these difficult conditions that the country is going through, and that the Egyptian citizen will not be affected by the increase in the IMF loan. taxes for the next period.

The Minister of Finance added: "The announcement of the amount of funding provided by the International Monetary Fund to Egypt will be announced after its final signing, and that the conditions of the International Monetary Fund are divided into 3 axes."

Muhammad Maait explained: “The fiscal year 2026/2027, we expect the public debt to decline by less than 70%, and the public debt to decline in 2022 and reach 82%, and in the past six years it decreased to 20% of the public debt.”

He added, "The reason for the delay in repaying the public debt is the crises that Egypt has gone through, such as the Corona crisis and the Russian-Ukrainian crisis, and debt service is paid from part of the revenues, and the whole world is going through difficult circumstances and we follow external events."