Half of Egypt’s Privatisation Programme Proceeds Allocated to Cut Public Debt ...Egypt

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Egypt’s Minister of Finance Mohamed Maait revealed in a ministerial meeting on 12 March that 50 percent of the revenues generated through the government’s privatisation programme will be used to reduce public debt in the upcoming fiscal year. The statement, later shared in a Cabinet Facebook post, added that the government will also utilise any primary surplus from the government’s budget to further cut public debt. “[This will keep Egypt] in line with the targets of reducing the debt-to-GDP ratio gradually to less than 80 percent over the next three years,” the statement explained. Egypt is required to pay USD 29.23 billion (EGP 1.42 trillion) in external debt service in 2024, followed by a

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Last updated : 13 March 2024 clock 03:28 PM

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Half of Egypt’s Privatisation Programme Proceeds Allocated to Cut Public Debt ...Egypt

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