09 Jan 2022

The Minister of Finance stated that Egypt’s draft budget for FY22/23 targets GDP growth of 5.7% and a primary surplus of 2%. The GDP growth target will gradually rise after that to reach 6% in FY24/25. The budget also aims to reduce debt to under 90% of GDP in FY22/23, and to bring it down further to 82.5% by the end of FY24/25. Furthermore, the plan is to shrink the budget deficit to 6.1% in FY22/23, and to ultimately reduce it to 5.1% by FY24/25.

(Source: Reuters (English), Forbes Middle East (English), al-Ahram (English) (Arabic), Egypt Today (English), See News (English), Arab News (English), al-Maal, Mubasher, al-Youm al-Saabe, al-Watan, al-Masry al-Youm, Akhbar al-Youm, Masrawy, al-Arabiya, al-Sharq al-Awsat, CNBC Arabia, CNN, RT, Sputnik)