Egypt repays $25B in domestic, external public debt since March 2024

Thu, 27 Jun 2024 - 03:07 GMT

Egypt repaid a substantial portion of its domestic and external public debt, amounting to $25 billion since March 2024

Egypt plans to reduce debt-to-GDP ratio to 80% in 2027

Mon, 29 Apr 2024 - 01:12 GMT

The Ministry of Finance will adopt a “targeted strategy” to reduce the debt-to-GDP ratio to less than 80% by June 2027.

Budget deficit grows during first 2M of FY2023/2024, Finance Ministry

Mon, 13 Nov 2023 - 05:37 GMT

Egypt’s debt-to-GDP ratio hit 95.6 percent in FY2022/2023, with the GDP recording LE 9.8 trillion ($318,23 billion)

Egypt's National Dialogue drafts proposals on public debt, state budget

Wed, 16 Aug 2023 - 12:41 GMT

Those were put forward during the public discussions held within the economic axis.

Egypt achieved LE 164.3B primary budget surplus, says finance minister

Mon, 17 Jul 2023 - 07:03 GMT

The Ministry of Finance predicts a further positive surge in the primary surplus during FY2023/2024, estimating it to reach 2.5 percent of the GDP

Deal to make EGP-denominated debt “Eurocleared” close to finalized, Finance Minister

Wed, 31 May 2023 - 03:52 GMT

EGP-denominated debt could become “Eurocleared” before the end of 2023, Finance Minister, Mohamed Maait, told local media yesterday

What is Egypt-Italy debt swap program?

Tue, 16 May 2023 - 07:52 GMT

Egypt and Italy have signed exchange letters to extend the agreement of the debt swap program for developemt for a third phase, lasting until December 2024.

Egyptian government pays back debts of 451 female low-income defaulters

Mon, 26 Dec 2022 - 01:15 GMT

Minister Nevine al-Qabaj pointed out that the ministry's intervention is aimed at protecting the children of those women who would be left without care, if their mothers go to jail.

Egypt plans to lower budget deficit to 4%, descend debt to 72% in 5 years: Maait

Mon, 24 Oct 2022 - 09:56 GMT

Maait elaborated that Egypt’s budget deficit recorded its highest rate during the period between 1980 to 1985, reaching 13.8 percent, before it started to decline to range from 4.4 percent to 6 percent.

Egypt to raise ticket price of trains, metro by 25% in August 2022 to pay back debts

Tue, 02 Aug 2022 - 02:31 GMT

Minister of Transport Kamel al-Wazir stated Monday that the ticket price of trains and metro will be raised by 25 percent by the end of August.

IDSC: reducing debt, increasing revenues most important features of Egypt's 22/23 budget

Mon, 23 May 2022 - 05:12 GMT

The IDSC added that the next year's budget targets LE 2 trillion in expenditures.

Egypt’s Finance Minister calls on developed countries to help alleviate debt burden for developing states

Mon, 23 May 2022 - 10:55 GMT

The minister presented some features of Egypt’s policies to face global economic crisis.

Egypt aims to reduce budget debt to 84% of GDP during 2022/23

Mon, 09 May 2022 - 01:27 GMT

The government is working to extend the life of the debt to reach 3.6 years by the end of June 2023 instead of 3.5 years expected by the end of next June and about 1.3 years in June 2013.

Egyptian minister announces number of imprisoned debtors eligible for presidential pardon

Wed, 27 Apr 2022 - 01:21 GMT

The minister noted that the selection was restricted to those who got loans to pay for essentials.

Egypt’s gov't continues its commitment to tight fiscal policy, bringing down the public debt ratio: Capital economics

Thu, 24 Feb 2022 - 05:08 GMT

“Over the past eight years, Egypt’s budget balance has significantly improved with the deficit narrowing from nearly 13 percent of GDP at the end of FY2012/13 to 7.4 percent by the start of FY21/22m” he noted.

Egypt aims to reduce domestic debt rate to less than 90% by next June

Tue, 01 Feb 2022 - 01:11 GMT

Egypt targets to reduce the debt rate to GDP in June 2022 to less than 90 percent, and less than 85 percent during the next three years, down from 108 percent in June 2017.

Egypt aims to reduce debt ratio within 3 years

Mon, 17 Jan 2022 - 09:03 GMT

Madbouly added, in a TV interview, that the debt ratio was 108 percent four years ago, then it decreased to 87 percent before the coronavirus crisis, to reach 91 percent currently.

Debts of Egyptian business sector companies down 77% in 3 years

Sun, 05 Dec 2021 - 04:57 GMT

“The value of the debt was LE 44 billion in 2018, including electricity, petroleum, solidarity and other parties. A settlement has been made with all parties, and only taxes remain,” Tawfik added.

Sisi urges maintaining financial performance to reduce deficit, debt

Mon, 18 Oct 2021 - 07:27 GMT

Egypt’s President Abdel Fattah El-Sisi urged maintaining performance regarding the general budget indicators, leading to achieve an initial surplus of 1.5 percent.

Standard & Poor's warns of risks of cost of Egyptian debt

Mon, 06 Sep 2021 - 01:13 GMT

This comes as Egypt enjoys the highest differential between nominal interest rates and inflation among more than 50 economies followed by Bloomberg, making Egyptian bonds and treasury bills among the preferred instruments among international investors hungry for yield.