Egypt targets debt to GDP ratio of 75%-80% in next 4 years – minister

Egypt is targeting a debt to GDP ratio of 75 percent to 80 percent in the next four years, said Finance Minister Mohamed Maait on Tuesday.

He also said that the government recorded a primary surplus of 157 billion Egyptian pounds ($5.09 billion) in the 2022-23 fiscal year which ended in June.

The Prime Minister Moustafa Madbouly, also added on Tuesday that Egypt is committing to paying all its debts.