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Madbouly: Egypt aims to cut debt by 2 billion dollars yearly
Prime Minister Mustafa Madbouly revealed that the government's goal is to reduce public debt to as low as 78% of GDP by the end of this fiscal year, with a plan to reach 76% by 2030. This will be achieved by maintaining economic growth rates and reducing interest expenses through lowering interest rates, which will decrease debt service costs. He also clarified that the state aims to reduce the total debt amount by an average of 1.5 to 2 billion dollars annually, with this year's target already being achieved. The overall objective is to better direct resources towards projects and services that directly benefit citizens.
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