Egypt Citizen’s Budget prioritises human development

The Egyptian Ministry of Finance released on Thursday the annual Citizen’s Budget report for fiscal year 2024/2025, which is typically published in late August or September after the House of Representatives approves the general budget.

The budget aims to maintain financial discipline while addressing the negative impacts of rising prices on citizens. Key priorities include reducing government debt, enhancing social protection, and improving living standards.

The budget also emphasises advancing human development in health and education, continuing efforts to build Egyptian human capital, and supporting economic activity, particularly in the productive sectors of industry, agriculture, and export.

To achieve financial discipline, the budget sets a target to reduce the general budget deficit to 7.3 per cent of GDP for the fiscal year 2024/2025. It also aims to maintain a primary surplus of approximately 3.5 per cent of GDP.

The budget outlines a specific plan to reduce public debt to 88 per cent of GDP by June 2025 and to below 80 per cent by June 2027, while also extending the maturity of domestic debt to enhance confidence in the Egyptian economy.

Attribution: Citizen’s Budget FY 2024/2025 report

Subediting: M. S. Salama