President Abdel Fattah El-Sisi has directed the government to escalate endeavors aimed at achieving economic sustainability by diminishing the entire budget deficit and the percentage of public debt to gross domestic product (GDP), and augmenting productive projects, especially those designated for export.
El-Sisi also mandated the continuation and enhancement of efforts to ease the burdens on citizens, particularly regarding inflation control, with a particular emphasis on human development sectors, notably health and education, in the forthcoming general budget, as per a statement released Wednesday by the Presidency.
This occurred during a gathering between President El-Sisi, Prime Minister Mostafa Madbouly, Central Bank Governor Hassan Abdalla, Minister of Planning and Economic Development Hala El-Said, Minister of International Cooperation Rania Al-Mashat, and Finance Minister Mohamed Maait.
The President was briefed on the comprehensive economic indicators considering recent investment and financial measures, revitalization packages for economic sectors, and investment attraction programs that the government has concentrated on over the past year.
On Tuesday, Egypt’s Finance Minister Mohamed Maait disclosed that the total public expenditures earmarked for the budget of the upcoming fiscal year 2024/2025 amount to EGP 3.9 trillion, while the anticipated revenue reaches roughly EGP 2.6 trillion.
In accordance with the expenditures and revenues, the anticipated total deficit would be EGP 1.3 trillion.
