24 Hrs
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بوابة الفجر
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Government cuts agency debt by 13.2% of GDP
The Egyptian government has reduced the debt of the budgeting authorities by 13.2% of GDP over the past two years, as part of efforts to improve public debt indicators and strengthen financial capacity to face economic challenges. This was discussed during a meeting led by President Abdel Fattah El-Sisi with the Prime Minister and Minister of Finance, where he emphasized the government's continued efforts to improve debt metrics and enhance the fiscal space to support citizens and investors. Additionally, it was announced that new tax facilitation packages will be introduced, tax bonds will be issued to reduce financing needs, and efforts are underway to improve financial markets' performance and expand the tax base. These policies aim to make the investment environment more attractive and increase resilience to global oil price fluctuations, with a focus on sustainability and financial development.
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