Egypt posts record primary budget surplus of LE 629B in FY2024/25

CAIRO - 16 August 2025: Egypt achieved its highest-ever primary budget surplus in fiscal year 2024/2025, reaching LE 629 billion, equivalent to 3.6 percent of gross domestic product (GDP), according to a statement from the Egyptian Presidency on Saturday, August 16.

The surplus marks an 80 percent increase from the previous fiscal year, when it stood at LE 350 billion.

Finance Minister Ahmed Kouchouk, speaking during a meeting with President Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly, said the performance was achieved despite major external shocks, including a 60 percent shortfall in Suez Canal revenues compared to budget targets, resulting in a loss of about LE 145 billion.

He added that the fiscal performance coincided with a broad improvement in Egypt’s economic indicators, alongside a significant rise in private investments, manufacturing, and exports.

The statement also highlighted that tax revenues recorded their fastest growth in recent years, rising 35 percent in FY2024/25 to about LE 2.2 trillion. This was attributed to expanded tax facilities, a broader tax base, and stronger trust with the business community.

Overall revenues grew 29 percent, while primary expenditures rose 16.3 percent during the fiscal year.