Amid rapid economic shifts and ongoing external pressures, Egypt has unveiled a long-term economic strategy extending to 2030, building on structural reforms implemented over the past decade. According to Dr. Ashraf Gharaab, economic expert and Deputy Head of the Arab Union for Social Development, the country is transitioning from reliance on international financing mechanisms toward greater self-sufficiency and sustainable growth. n nThis vision comes as Egypt continues its current arrangement with the International Monetary Fund (IMF), set to conclude by the end of 2026. With improved macroeconomic indicators and successful prior reform steps, authorities are now initiating broad public discussions on future economic policies aimed at building a more resilient economy capable of withstanding global shocks and reducing dependence on external funding. n nGharaab stated that Egypt can continue its reform trajectory without requiring a new IMF program. He recalled that the original reform path launched in 2016 achieved notable success, but consecutive global crises—including the 2020 pandemic, which disrupted supply chains and reduced growth, followed by the 2022 Russia-Ukraine war affecting grain imports and foreign investment flows, and the October 2023 Gaza conflict—exacerbated economic challenges, prompting renewed borrowing from the IMF. n nHowever, recent data shows positive momentum: in July alone, Egypt earned approximately USD 8.5 billion in foreign currency from remittances, exports, tourism, and other sectors. This steady inflow suggests the country may increasingly cover its foreign exchange needs independently. n nTo sustain this progress, Gharaab emphasized the need for continued structural reforms, including localizing industries, deepening domestic manufacturing, expanding investment incentives such as golden licenses and long-term land use rights, and identifying import substitutes in collaboration with the private sector. These measures aim to narrow the trade deficit, boost exports, increase foreign currency availability, strengthen the local currency, and ultimately improve living standards. n— news from صدى البلد