Egypt has shown resilience in navigating economic shocks while sustaining fiscal reforms and macroeconomic stability, Minister of Finance Ahmed Kouchouk said. Egypt achieved a primary surplus of 3.5% of GDP, while the total budget deficit fell to 5.2% between July and March, the minister added during an open discussion at the Egyptian British Business Association (BEBA) in London.
He said the ministry is pursuing "a comprehensive and integrated strategy to lower government debt, with a view to reducing the budgetary external debt by $1 billion to $2 billion annually." Buoyed by a 73% surge in private investments last fiscal year and a near 40% increase in the first half of the current fiscal year, the private sector now accounts for 59% of total investments, the minister noted.
He indicated that non-oil industries, ICT, and financial services demonstrated strong growth, while tourism revenues rose 22% to $10.2 billion in the first half of the current fiscal year. In addition, net international reserves reached $53 billion in April 2026, amid declining inflation, the minister pointed out.
Furthermore, the government slashed outstanding dues to foreign oil partners by over 67% within two months, targeting full settlement by this June, Kouchouk said, noting that the country’s "economic vision focuses on stimulating production, manufacturing, and exports through enhanced investment, tax, and customs incentives." Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert