EGYPT registered a record primary surplus of 629 billion Egyptian pounds ($13bn) in the 2024-2025 fiscal year, equal to 3.6 per cent of the country’s gross domestic product, the presidency said in a statement yesterday.
The primary surplus came 80pc above that in the 2023-2024 fiscal year.
Finance Minister Ahmed Kouchouk, speaking during a meeting with President Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly, said the performance was achieved despite major external shocks, including a 60pc shortfall in Suez Canal revenues compared to budget targets, resulting in a loss of about 145bn pounds.
He added that the fiscal performance coincided with a broad improvement in Egypt’s economic indicators, alongside a significant rise in private investments, manufacturing, and exports.
The statement also highlighted that tax revenues recorded their fastest growth in recent years, rising 35pc in FY2024/25 to about 2.2 trillion pounds. This was attributed to expanded tax facilities, a broader tax base, and stronger trust with the business community.
Overall revenues grew 29pc, while primary expenditures rose 16.3pc during the fiscal year.
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