Egypt Budget 2024/25: 8 key facts you need to know

As Egypt prepares to navigate through its fiscal year 2024/2025, significant insights into the country's budget have emerged. Here are 8 crucial facts you need to know:

1. Stricter Investment Limits: The government is imposing a strict ceiling of EGP 1 trillion on public investments, aimed at fostering private sector opportunities and sustainability.

2. Debt Control: A cap will be placed on public debt, signaling a commitment to financial discipline and stability.

3. Reducing Debt-to-GDP Ratio: Egypt aims to lower the debt-to-GDP ratio to less than 80% over the next three years, showcasing long-term fiscal responsibility.

4. Support for Exports: EGP 23 billion has been allocated to support exports, incentivizing investors to expand their export activities and bolstering economic growth.

5. Public Expenditure: The total public expenditure is set at a substantial EGP 3.9 trillion, demonstrating ambitious government spending plans.

6. Revenue Targets: Anticipated revenue stands at approximately EGP 2.6 trillion, indicating robust financial projections despite economic challenges.

7. Tax Revenue: The government targets EGP 2 trillion in tax revenue without imposing new burdens on citizens or investors, focusing on integrating the informal economy and optimizing tax systems.

8. Social Support: Over US$12 billion (LE 596 billion) has been allocated to support citizens, including subsidies for food supplies, petroleum products, and social welfare programs like Takaful and Karama.

Egypt's budgetary measures reflect a delicate balance between economic growth, fiscal discipline, and social welfare priorities. As the country sets ambitious targets and implements strategic reforms, the path towards economic stability and prosperity continues to unfold.