The International Monetary Fund team mission is currently reviewing with the Egyptian government the terms of the country's state budget 2016-2017, to ensure steps to achieve targeted figures. Egyptian Minister of Finance Amr el-Garhy further told reporters the talks with the IMF are in good progress. The IMF mission will stay for further 10 to 12 days in Cairo, el-Garhy said. "We are making good progress in negotiations with the IMF," El Garhy said at a news conference on Thursday. The talks with the IMF delegation, which are expected to continue until mid-August, relate to the current budget, he said. "We want to achieve the figures we set for the budget ... This is what we are discussing with the IMF," Garhy said. Egyptian officials are holding talks in Cairo with the IMF over a loan to help finance the government's economic programme. Egypt is seeking $12 billion over three years. In the 2016-2017 budget, Egyptian government targets economic growth of 5.2 percent versus 4.4 percent in 2015-2016. The deficit is projected to reach 9.8 percent versus 11.5 percent in the former financial years 2015-2016 and 2014-5015.
