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CNN Arabic
Source: CNN Arabic
1 DayCNN Arabic
Source: CNN Arabic
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Egypt aims to reduce public debt to around 69.5% of GDP by 2030 by narrowing the budget deficit, increasing revenues, rationalizing spending and limiting borrowing, while setting caps on debt and sovereign guarantees. The government said debt owed by budgetary entities fell by around 14% between June 2023 and June 2026. It aims to reduce the budget deficit from around EGP 1.5 trillion to EGP 1.1 trillion in fiscal year 2026/2027. Proposed measures include diversifying financing through the issuance of sovereign sukuk backed by assets or usufruct rights. Around 26,690 feddans on the Red Sea coast have been allocated to the Ministry of Finance for debt-reduction purposes and sukuk issuance.
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