Egypt aims to cut debt-to-GDP to 72% in 5 years: Maait

The country has recorded a primary surplus of 1.3% at the end of FY 2021/2022

Staff Writer, Arab Finance

October 25, 2022

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Egypt is looking to cut the debt-to-GDP ratio to reach 72% in the coming five years, Minister Mohamed Maait stated during the first day of the Egyptian Economic Conference on October 24th.

This ratio would be the lowest level to be recorded in Egypt in over 42 years, Maait added.

Moreover, the minister noted that the government targets a primary surplus of 2.3% in fiscal year (FY) 2026/2027.

The country has recorded a primary surplus of 1.3% at the end of FY 2021/2022, he pointed out.

The Egyptian Economic Conference is taking place in the New Administrative Capital from October 23rd to 25th.

The three-day event is organized by the government and is attended by ministers, along with a group of major economists, thinkers, and experts.

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