Egypt sets external debt cap at 40% of GDP to ensure economic stability

Prime Minister Mostafa Madbouly announced that Egypt has reached an agreement to cap its external debt at 40% of GDP, reinforcing the government’s commitment to maintaining fiscal discipline and ensuring long-term economic stability.

In a press conference, Madbouly announced that Egypt has achieved its lowest trade deficit in the past decade, largely due to a rise in exports.

 Madbouly emphasized the substantial growth across all sectors and reaffirmed the government’s ongoing efforts to enhance economic performance and increase productive capacity.

He noted that exports from projects in the West Qantara area are projected to surpass $4 billion, signaling the success of development initiatives.

Additionally, he highlighted the remarkable performance of the Suez Canal Economic Zone, which attracted $13.5 billion in investments despite fierce global competition.

Madbouly also mentioned that the government is preparing a series of facilitations and incentives aimed at further boosting investment in the near future.