Egypt eyes initial surplus of 3.5% in ’27 – minister

Egypt is targeting a substantial initial surplus of 3.5 per cent of GDP by the end of June 2027, said Minister of Finance Mohamed Maait in statement posted by the Egyptian Cabinet on Sunday.

The country also aims to reduce the overall budget deficit in the medium term to 6 per cent, and lower the debt ratio to 80 per cent by June 2027, he added.

Minister Maait made these remarks following the launch of the procedural guide for budgets of programmes responsive to gender equality and equal opportunities.

Health and education spending will see a higher allocation by 30 per cent in the new budget, the minister stated. Proportions for subsidies and social protection will also increase as part of efforts to alleviate the impact of inflationary burdens on citizens.

Moreover, Minister Maait pointed out that the planning, preparation, and execution of the general state budget for the financial year 2024/2025 takes into account providing the necessary financial allocations to enhance the efficiency of targeting budgets responsive to gender equality and equal opportunities with more flexible and accurate mechanisms.