Ahmed Kouchouk, Minister of Finance, affirmed that Egypt has demonstrated its ability to withstand external shocks while maintaining the momentum of economic and fiscal reforms, preserving a path of economic stability and balanced growth supported by solid macroeconomic indicators.

 

Speaking during an open dialogue hosted by the British Egyptian Business Association (BEBA) in London, Kouchouk said Egypt achieved a primary surplus of 3.5% of GDP, while the overall budget deficit declined to 5.2% during the period from July to March of the current fiscal year.

 

The Minister noted that the government is committed to ensuring a downward trajectory for public debt through a comprehensive and integrated strategy focused on improving the financing structure and maintaining prudent debt management policies. He added that Egypt aims to continue reducing the budget sector’s external debt by USD 1–2 billion annually.

 

Kouchouk emphasized that the improvement in economic conditions has enabled Egypt to adopt a proactive approach in addressing challenges arising from geopolitical tensions. He noted that the economic and fiscal reforms implemented by the government have translated into a 73% increase in private investment during the previous fiscal year, with growth approaching 40% in the first half of the current fiscal year.

 

He explained that Egypt’s economic vision is centered on stimulating production, manufacturing, and exports through additional investment, tax, and customs incentives. He added that both domestic and foreign private-sector investors have demonstrated their ability to respond swiftly and flexibly to Egypt’s reform agenda.

 

The Minister highlighted the strong performance of non-oil industries, telecommunications, information technology, and financial services, noting that the private sector now accounts for 59% of total investments.

 

Kouchouk further pointed out that Egypt’s net international reserves reached USD 53 billion in April 2026, while inflation continues to decline within the framework of a coherent and disciplined economic policy environment.

 

He also underscored the tourism sector’s strong performance, with revenues reaching USD 10.2 billion during the first half of the current fiscal year, marking a 22% increase compared with the corresponding period of the previous year.

 

The Minister stressed that Egypt offers growing economic opportunities across a range of strategic sectors, supported by competitive advantages that enhance the country’s attractiveness to foreign direct investment.

 

On the energy front, Kouchouk revealed that Egypt has reduced arrears owed to foreign partners in the petroleum sector by more than 67% within two months, adding that the government is targeting the full settlement of these outstanding obligations during June 2026.