Monday, 25 May 2026
Egypt PM highlights economic reforms, bilateral ties during Lebanon visit
Egyptian Prime Minister Mostafa Madbouly emphasized Egypt's homegrown economic program and its successful negotiations with the International Monetary Fund (IMF) while addressing a high-level economic meeting in Beirut focused on prospects for Egypt-Lebanon trade and cooperation.
Speaking at the event titled "Prospects for Economic and Trade Cooperation Between Egypt and Lebanon," attended by Lebanese economic officials and the Chamber of Commerce and Industry, Madbouly stressed that Egypt's IMF program is "purely national," designed by the Egyptian state before negotiations on its terms began. "The IMF always looks at the stability of the country, and the more it senses that, the more flexibility it shows," he said.
Madbouly shared insights from Egypt's experience to advise Lebanese counterparts, urging them to develop their own national reform program first and then negotiate with the Fund. He noted that Egypt prioritized social protection measures in its program to mitigate the impact of reforms, and highlighted the IMF's increasing flexibility as Egypt demonstrated commitment amid challenges like the Gaza conflict and reduced Suez Canal revenues.
On Egypt's domestic development, Madbouly defended the ambitious plan launched under President Abdel Fattah El-Sisi to expand the country's inhabited area from 7% to at least 14% of its total land. With Egypt's population now around 110 million—up from under 90 million in 2014—this includes building over 30 new cities, including the flagship New Capital and New Alamein on the Mediterranean coast.
These projects, he said, have created approximately 5 million jobs, reducing unemployment from 13.5% in 2014 to about 6.2% today despite population growth. Madbouly compared it to post-World War II European reconstruction, where infrastructure investments drove employment and growth.
He also touted Egypt's massive infrastructure push, including modern roads, bridges, ports, and transport networks, crediting political will, reliance on national companies, and concessional international financing for rapid progress.
Turning to bilateral relations, Madbouly reaffirmed Egypt's strong support for Lebanon, stating that "Lebanon's stability, growth, and prosperity are inseparable from Egypt's." He called for greater private sector involvement to boost investments and partnerships, pledging to remove administrative barriers, including prioritizing Lebanese pharmaceuticals for entry into the Egyptian market.
The visit comes amid ongoing efforts to strengthen Egypt-Lebanon ties, following recent agreements in various sectors and as regional tensions persist in southern Lebanon. Madbouly's meetings with Lebanese Prime Minister Nawaf Salam and other officials underscored shared priorities in energy, industry, and trade.