Minister of Finance Ahmed Kouchouk said Egypt has demonstrated its ability to withstand external shocks while maintaining the momentum of its economic and fiscal reform agenda.
Speaking at an open discussion hosted by the British Egyptian Business Association (BEBA) in London on Wednesday, Kouchouk noted that Egypt recorded a primary surplus of 3.5% of GDP, while the overall budget deficit narrowed to 5.2% during the period from July to March.
The minister said the government is committed to ensuring a downward trajectory for public debt through a comprehensive strategy focused on improving the financing structure and continuing to reduce the external debt of budget entities by $1 billion to $2 billion annually.
Kouchouk added that improving economic conditions had enabled Egypt to respond proactively to challenges arising from geopolitical tensions.
He noted that ongoing reforms contributed to a 73% increase in private-sector investments during the last fiscal year and nearly 40% growth in the first half of the current fiscal year.
He said Egypt’s economic vision is centered on boosting production, manufacturing and exports through further investment, tax and customs incentives, stressing that both domestic and foreign private-sector investors have responded positively to the country’s reform path.
The minister highlighted strong growth in non-oil industries, information and communications technology, and financial services.
He noted that the private sector accounts for 59% of total investments, while net international reserves reached $53 billion in April 2026 and inflation continues to ease.
Tourism revenues rose 22% to $10.2 billion in the first half of the current fiscal year, he said, adding that Egypt offers growing investment opportunities across several competitive sectors.
Kouchouk also noted that outstanding dues owed to foreign partners in the petroleum sector had been reduced by more than 67% within two months, with full settlement targeted by the end of June.
