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Finance Ministry Reports $6.5B Drop in External Debt of Budget Agencies
Statements from the Egyptian Ministry of Finance indicated that the external debt of budgetary agencies decreased by $6.5 billion over three years, as part of the government's efforts to achieve fiscal sustainability. The Minister also pointed out that Egypt aims to reduce the debt-to-GDP ratio to 78.1% by 2027, with a focus on increasing spending on health and education, and streamlining tax and customs procedures. This comes amid economic growth rates of 5.1%, as the government strives to reduce the overall deficit to 4.9% by the end of June 2027.
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