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2026-11-12T15:53:54.000Z

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Debt 81.9%, £40bn cuts

Debt 81.9%, £40bn cuts

The Egyptian Cabinet spokesperson said that the ratio of public debt to gross domestic product fell from 95.7% in June 2023 to 81.9% in June 2026—a decline of nearly 14 percentage points. Government spending-rationalization measures are expected to generate savings of around 40 billion Egyptian pounds by the end of June 2027, with the first phase lasting three months. He explained that reducing debt and rationalizing spending would make it possible to direct additional resources toward services, particularly education and healthcare.

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