Egypt is one of the 16 partner countries whose relations with the EU are framed by the European Neighbourhood Policy (ENP). This country page presents information on DG ECFIN’s activities and economic cooperation with Egypt.
DG ECFIN conducts regular analysis on macroeconomic and financial developments in Egypt.
Through their regular macroeconomic dialogues, the EU and Egypt exchange views on their respective economic situations and outlooks and on the major structural challenges that they face.
The latest EU-Egypt macroeconomic dialogue took place in Cairo in February 2015. The European Commission presented inter alia the EU economic outlook based on the latest economic forecast. The Egyptian authorities outlined recent macroeconomic developments in their country following the political changes. The meeting also provided the opportunity to discuss issues related to price subsidy and tax reform.
Following a request by the Egyptian authorities, the European Commission was considering a possible Macro-Financial Assistance (MFA) programme to help Egypt meet the external financing needs that emerged in the wake of the country’s revolution in 2011. Preparations were discontinued, however, as negotiations between Egypt and the IMF on a programme were first delayed and then interrupted in late 2012. Since then, Egypt has not formally requested an IMF programme. As a result, and in light of the August 2013 Foreign Affairs Council Conclusions (which call for EU assistance to be focused on socio-economic sectors and civil society), no MFA is currently being considered.
The links below provide additional information on EU-Egypt relations: