Prime Minister, Mostafa Madbouly, confirmed that Egypt's External debt decreased by more than $15 billion within 6 months, during a press conference following the Cabinet's meeting.

He indicated that the state is working hard on economic reforms, including empowering the private sector.

Egypt set a target to reduce inflation to less than 10% by the end of 2025, Madbouly confirmed.

Madbouly added that allocating part of the budget to public projects will contribute to achieving this goal.

Prime Minister Madbouly added that recent events have resulted in the canal losing over 60% of its revenues, amounting to an estimated loss of $600 million per month.

Madbouly has emphasized the significance of internal stability as a foundation for achieving the objectives of the government's program. As the nation continues to navigate economic challenges and regional tensions, the government has set a clear path to fortify its economy, focusing on strategic sectors and clean energy expansion.

Recent events in the region have caused a sharp increase in the prices of oil and gold. The volatility in these markets has a dual impact on Egypt.