Egypt’s ambitious budget makes private sector a priority

Egypt’s ambitious budget makes private sector a priority

Egypt’s budget for the financial year 2024-25 includes ambitious targets of 4.2 percent growth, a 50 percent increase in private sector investment and a primary surplus of 3.5 percent.  The budget was approved in a cabinet meeting on Wednesday and will be sent to the House of Representatives by the end of the month.  It […]

2024-25 budget approved by cabinet

50% rise in private sector investment

Overall growth set at 4.2%

Egypt’s budget for the financial year 2024-25 includes ambitious targets of 4.2 percent growth, a 50 percent increase in private sector investment and a primary surplus of 3.5 percent. 

The budget was approved in a cabinet meeting on Wednesday and will be sent to the House of Representatives by the end of the month. 

It projects a 36 percent increase in the state’s general budget revenue to EGP2.6 trillion ($60.6 billion) and a 29 percent increase in expenditures to reach EGP3.9 trillion.

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The budget also included projections for total government revenue and expenditure for the first time, including economic bodies not listed in the general budget such as the Suez Canal Authority and New Urban Communities Authority. 

Under this broader definition, revenues should reach EGP5