In late 2016, Egypt entered into a new agreement with the IMF. Today, the government is performing well under the $12b IMF loan programme, a reform agenda that focuses on major monetary, fiscal and structural reforms. Main points of the reform agenda include a liberal currency regime (bringing the value of the Pound down by more than half), cutting fuel and utilities subsidies, increasing tax collection and introducing legislation to improve the business climate and attract foreign investment. Additionally, Egypt introduced a social protection program for the most vulnerable and on increasing employment for the youth and for women.
In 2018, inflation was still 20% but has been improving since and dropped down to 8-9% in July 2019. Economic growth has been around 5.5% (5.8% in 2019) and unemployment decreased to 10%. The population of Egypt reached 101 million in 2020. The population growth is 1.9% and expected to reach 140 million people by 2050.
GAFI (General Authority for investment and Free Zones) is an affiliate of the Ministry of Investment (MOI) and the principal government body regulating and facilitating investment in Egypt.