Egypt’s Minister of Finance, Ahmed Kouchouk, has announced a significant drop in the country’s debt-to-GDP ratio, now standing at approximately 85% at the close of the 2024-2025 fiscal year.
The statement comes as part of a broader government push to stabilise public finances and boost national revenues.
Speaking to CNBC Arabia, Minister Kouchouk highlighted the government’s commitment to directing additional revenue toward vital public sectors.
“Any additional revenues in the general budget were allocated to developing priority sectors,” he said, without specifying which sectors received the funds.
The minister also pointed to a notable surge in tax revenue collection, which increased by 35%, amounting to around EGP 600 billion over the fiscal year. The improvement is seen as a key factor in narrowing the fiscal deficit and reducing the state’s reliance on borrowing.
In a further sign of progress, Kouchouk revealed that the ministry had received 170,000 applications to resolve tax disputes within just four months—an indication, he suggested, of growing compliance and public cooperation with tax authorities.
In addition to the fiscal updates, the finance minister confirmed that a long-anticipated social protection package has officially come into force. The initiative, designed to mitigate economic hardship among vulnerable groups, is expected to play a central role in shielding low-income citizens from inflationary pressures and subsidy reforms.
“The social protection package has entered into force, to alleviate the burden on those who are entitled to it,” Kouchouk stated.
The announcement reflects the Egyptian government’s continued efforts to implement structural reforms, boost revenue streams, and protect its most economically vulnerable citizens amid ongoing global economic headwinds.
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