Egypt reviews plan to settle state owned press institutions’ debt

Egypt’s Prime Minister Moustafa Madbouly reviewed plans to settle the debt of state-owned press institutions on Sunday as the government seeks to strengthen their financial sustainability and support their role in the country’s media sector.

During the meeting, Madbouly directed the National Press Authority to prepare a comprehensive study for each state-owned press institution, outlining proposed mechanisms to achieve financial sustainability. The studies will be reviewed with Deputy Prime Minister for Economic Affairs Hussein Eissa before being submitted at a later meeting for approval and the necessary decisions.

He said resolving the institutions’ debt remains a government priority under presidential directives to support the Egyptian media, particularly national press organisations. He said the government has held several meetings in recent months to assess proposals and develop practical mechanisms for settling the debt.

Finance Minister Ahmed Kouchouk said the ministry is coordinating with the National Press Authority to settle the institutions’ liabilities in a way that provides sustainable financial resources, improves their ability to meet financial obligations, and supports the continuity of their operations.

National Press Authority Chairman Abdel Sadek El Shorbagy reviewed the authority’s efforts to address the institutions’ debt and said it is working to improve financial sustainability by making better use of its assets and strengthening asset management to generate sustainable revenue and prevent the accumulation of new liabilities.

Attribution: Amwal Al Ghad English