PM: Egypt’s total debt repayment hit $38.7b in ’24

Egypt repaid $7 billion in debt during November and December 2024, raising total repayments for the year to $38.7 billion, Prime Minister Moustafa Madbouly stated.

Speaking at the weekly Cabinet meeting, Madbouly highlighted the significant challenges posed by this year’s substantial debt obligations, but reaffirmed the country’s unwavering commitment to fulfilling both local and external liabilities.

He stressed the government’s priority on debt reduction, describing 2024 as the toughest year for repayments.

Looking ahead, Madbouly expressed confidence in navigating current economic pressures and achieving greater financial stability in 2025, despite persistent global inflationary trends.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama