Egyptian authorities responded to the ongoing crisis with a rapid and proactive approach that has been widely praised by international institutions, Finance Minister Ahmed Kouchouk said.

 

Speaking during an open dialogue with international investors organized by Jefferies International and Société Générale on the sidelines of the IMF–World Bank Spring Meetings in Washington, Kouchouk affirmed that there is full coordination and cooperation among all government entities to ensure swift decision-making and strong communication with markets and investors.

 

He added that Egypt’s fiscal policy is guided by four medium-term priorities aimed at ensuring discipline, reducing debt levels, and enhancing the competitiveness of Egyptian economy. He stressed that the government is working to balance fiscal discipline with economic support measures and more targeted social protection programs.

 

Kouchouk reaffirmed commitment to the economic reform path, noting continued initiatives supporting tourism, production, exports, and entrepreneurship. He stated that the Egyptian economy continues its strong recovery in the first half of the fiscal year, recording growth of 5.3%, driven by private sector investment.

 

He noted significant improvements in tourism performance, non-oil exports, Egyptians' remittances, and foreign direct investment. He added that Egypt achieved a primary surplus of 3.5% of GDP during the period from July to March, supported by an active policy to boost domestic revenues.

 

The minister said tax revenues rose by 29% during the same period, driven by strengthened trust with the business community and increased private sector activity. He added that the overall budget deficit declined from 6% in the previous fiscal year to 5.2% of GDP during the July–March period of the current fiscal year.

 

Kouchouk also confirmed that external debt of budget sector entities declined by around $4 billion in June 2025 compared with 2023, while the debt-to-GDP ratio fell by around 13% over the past two fiscal years, compared with an increase of around 6% in emerging markets. He noted that updated credit rating reports reflect a stable positive outlook for Egypt’s economic performance.