Egypt tightens fiscal reins with new debt cap law

The Egyptian Cabinet approved on Thursday the implementation of the Unified Public Finance Law, which aims to establish an annual cap on public government debt. The new regulation will govern debt management across 59 economic entities, aiming to enhance financial discipline and stability.

To ensure effective oversight, the Ministry of Finance will establish dedicated units, while specialised accounting units will be set up in all economic entities. This move is expected to streamline fiscal operations and enhance transparency.

The approval is part of Egypt’s broader efforts to strengthen economic resilience and maintain sustainable public finances.

Attribution: The Egyptian Cabinet