Egypt aims to reduce debt ratio to 80% by 2027

Sun, 07 Apr 2024 - 01:41 GMT

This includes setting a maximum limit for the government's debt value in all its economic, service, administrative entities, and local authorities.

Egypt targets LE 1.3T deficit in 2024/25 budget

Tue, 19 Mar 2024 - 07:49 GMT

According to the amount of expenditures and revenues, the expected total deficit would be LE 1.3 trillion.

Egypt’s net foreign assets deficit drops by $170M in November to $26.98B, CBE

Tue, 02 Jan 2024 - 12:11 GMT

NFAs saw a slight improvement during November, reported at negative $11.2 billion compared to negative $11.3 billion in October

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: proposal to incriminate owners of informal enterprises

Wed, 06 Sep 2023 - 03:10 GMT

Economic Expert and Member of Al Masreyin Al Ahrar (The Free Egyptians Party) Mohamed Badra attended Tuesday the National Dialogue's session on public debt and budget deficit putting forward two suggestions.

Egyptian business community leader warns of long-run negative impact of trade deficit on exchange rate

Sun, 30 Oct 2022 - 02:25 GMT

Head of the Export Council for Engineering Industries Sherif al-Sayad made the statements in a TV interview Saturday.

Egypt's budget deficit falls to 6.1% of GDP in 2021/22

Mon, 04 Jul 2022 - 04:21 GMT

The value of the debt service bill decreased to 32.8 percent in the last fiscal year, compared to 35.8 percent in the previous fiscal year, the data revealed.

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's budget deficit to GDP dips to 4.9% during 1st nine months of 2021/22

Tue, 26 Apr 2022 - 04:13 GMT

Tax revenue also increased by 12.8 percent, in addition to maintaining the budget's achievement of a primary surplus, according to Minister of Finance Mohamed Maait.

Egypt's budget deficit hit LE470.2B in 2020/21

Tue, 19 Apr 2022 - 03:06 GMT

Cash deficit in 2020/2021 general budget recorded LE 470.2 billion, compared to the estimated LE 431 billion, according to Minister of Finance, Mohamed Maait.

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.

Egypt targets growth rate of 5.4%, deficit reduction to 6.7% in 21/22

Mon, 18 Oct 2021 - 03:03 GMT

The minister explained that Egypt seeks to sustain the downward path of debt rates to GDP by adopting the implementation of a public debt management strategy based on diversifying sources of financing and issuing “dollar” bonds, “Eurobond” bonds, “green” bonds, and “sustainable development” bonds and sukuk.

Egypt's non-oil trade balance deficit records $30.7B during 9 months

Wed, 30 Jun 2021 - 03:23 GMT

The rise came as a result of the increase in payments for non-oil merchandise imports that exceeded the increase in receipts from non-oil merchandise exports, as payments rose by about $4.5 billion to record $45.4 billion.

Egypt's president urges studying coronavirus global, regional economic repercussions

Sat, 13 Feb 2021 - 09:37 GMT

Egypt’s President Abdel Fattah El Sisi on Saturday urged following up on and studying all the global and regional economic repercussions of the coronavirus pandemic to crystalize the appropriate financial measures.

Minister displays Egypt's economic performance during COVID-19 crisis in IMF, WBG meetings

Sun, 18 Oct 2020 - 12:59 GMT

In one of the 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Minister of Finance Mohamed Mait displayed figures on the performance of the Egyptian economy during the COVID-19 crisis and plans for the future.

Egypt's total deficit hits LE389.1B in 11 months of 2019/2020

Mon, 20 Jul 2020 - 03:13 GMT

The total deficit during the 11 months ended in May represented 6.5 percent of GDP compared to about 6.2 percent of GDP during the same period in the previous year.

Capital markets professional slams claims of looming economic 'collapse'

Fri, 28 Jun 2019 - 09:43 GMT

Shams El-Din said that Egypt's external debt has been below the emerging markets average.

Egypt to reach normal rates of deficit, public debt: Minister

Wed, 12 Dec 2018 - 08:30 GMT

The minister added that the government aims to achieve a primary surplus of 2 percent, and a total deficit of 8.4 percent of GDP by the end of the fiscal year.

Egypt's exports to Netherlands up 29.5% in 2017: Trade Min.

Sat, 12 May 2018 - 10:10 GMT

Egypt's exports to the Netherlands recorded 269.7 million euros in 2017.

CBE issues LE 15.2B in T-bills Sunday

Sat, 12 May 2018 - 10:06 GMT

The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 15.2 billion in treasury bills on Sunday.