Egypt is a partner country within the European Neighbourhood Policy (ENP). This country page contains, or links to, DG ECFIN’s recent analytical work on the economy of Egypt.
Economic and social reforms in Egypt (taken from European Neighbourhood Policy (ENP) Progress Report , March 2014)
The EU held its last Macroeconomic Dialogue with Egyptian authorities in Brussels in October 2012. The European Commission presented the EU economic outlook based on the preliminary autumn 2012 economic forecast. The Egyptian authorities presented recent macroeconomic developments in their country following the 2011 revolution. The meeting also provided the opportunity to discuss issues related to public finance management, taxation, regional economic developments and the possibility of an IMF programme.
The European Commission was prepared to offer Macro-Financial Assistance (MFA) to help Egypt meet its external financing needs following the country’s revolution in 2011. No progress has been possible, however, because of Egypt’s unwillingness to accept an IMF programme.
In 2011, advanced discussions ended when political instability made it difficult for Egypt’s major political parties to support an IMF programme.
Discussions in late 2012 for a EUR 450 million MFA loan and a EUR 50 million MFA grant also were terminated after Egypt postponed its request for IMF support.
The links below provide additional information on EU-Egypt relations: