Egypt’s government said it does not plan to introduce additional burdens on citizens in the energy sector, including petroleum and natural gas, as the country enters the final year of its economic reform program with the International Monetary Fund.

Prime Minister Mostafa Madbouly said the targets agreed with the IMF through the end of the program “do not relate to anything that affects the Egyptian citizen,” seeking to dispel speculation about further austerity measures.

Speaking at a weekly press conference following a cabinet meeting in the New Administrative Capital, Madbouly said the IMF has completed the fifth and sixth reviews of Egypt’s reform program.

Madbouly said the program is set to conclude within a year, with targets under the fifth and sixth reviews on track and agreement reached with the IMF on the remaining seventh and eighth reviews.

He said IMF assessments had praised Egypt’s stabilization efforts, citing improved balance-of-payments indicators, a narrowing current-account deficit and stronger non-oil exports, alongside improved fiscal performance, including a primary surplus of 3.5% of GDP in fiscal year 2024-25.

Such assessments are important for capital inflows, Madbouly said, noting that foreign investors closely monitor IMF reports. He also cited a Moody’s report highlighting a sharp decline in inflation to 12.5% year on year in October, greater exchange-rate flexibility and a clearer reduction in the current-account deficit, alongside expectations for stronger growth.

On external inflows and trade, Madbouly said remittances reached about $34 billion in the first 10 months of the year, compared with $23.7 billion over the same period a year earlier.

He added that non-oil merchandise exports in 2025 are expected to increase by more than 20% compared with 2024.

Tourism remains a key pillar of the government’s growth strategy. Madbouly said Egypt received about 18.8 million tourists in 2025, up from roughly 15 million in 2024, and reaffirmed a target of 30 million by 2030. He said aviation capacity will be expanded, including doubling the fleets of EgyptAir and other state-owned carriers within two to three years.

Madbouly also pointed to rising investment in the Suez Canal Economic Zone, citing new multi-sector agreements exceeding $1.15 billion and the planned inauguration of major projects, including solar supply chain factories, in January.

Finance Minister Ahmed Kouchouk said IMF negotiations had been “very positive” and reflected “strong financial results and the underlying potential of the Egyptian economy.”

He said efforts to broaden the tax base had increased revenues by 35 percent “without imposing additional burdens on the business community,” while the government continues to prioritize public debt reduction and expand targeted social spending, including higher allocations for health, education and cash support programs.