PM: Egypt govt committed to keep debt on a downward path

Egyptian Prime Minister Moustafa Madbouly met on Wednesday with Finance Minister Ahmed Kouchouk to review the government’s ongoing efforts to reduce public debt and sustain its downward trend.

According to Mohamed Elhomosany – Egyptian Cabinet’s official spokesperson, Prime Minister Madbouly asserted that the government is committed to lowering the debt-to-GDP ratio and had already made progress in decreasing external debt throughout recent months. The government plans to maintain this strategy over the medium and long terms by implementing fiscal discipline and a comprehensive debt reduction programme. The programme, the prime minister explained, includes measures to lower the cost of debt, diversify funding sources, and extend debt maturities.

By successfully reducing public debt, the government aims to enhance investor confidence and strengthen the Egyptian economy.

Attribution: The Egyptian Cabinet