Egypt aims to launch digital currency by 2030

The Information and Decision Support Center of the Egyptian Council of Ministers prepared a research project, “The Document on the Most Important Strategic Directions of the Egyptian Economy for the New Presidential Period (2024-2030),” which determines the policies for the Egyptian economy until 2030 regarding economic and social trends.

According to the study, Egypt aims to launch a digital currency issued by the Central Bank of Egypt, represented by the digital pound (E-Pound) by 2030.

This comes to enhance the competitiveness of the national currency and increase the efficiency of monetary policy, alongside exploiting opportunities provided by digital transformation to further develop the Egyptian financial sector and increase levels of monetary policy efficiency.

The document indicated that Egypt aims to continue developing the Egyptian financial sector and utilize digital transformation to raise the rate of financial inclusion to 100 percent by 2030, represented by financial services and digital payment systems.

It seeks to raise the number of digital financial wallets to about 80 million by 2030.

Egypt also aims to implement budget unity and comprehensiveness, balancing digital transformation towards adopting programs and performance budgeting in an effort to boost the effectiveness of government spending, and reform economic bodies to ensure their governance.