Egypt Daily News – Egyptian Prime Minister Mostafa Madbouly said that his country paid debts worth $38.7 billion during 2024, which represented a major challenge for the state.
He added in a statement issued by the Council of Ministers that Egypt paid about $7 billion of its debts during the months of last November and this December.
He stressed that Egypt is committed to paying its obligations, and that it has never failed to pay those dues, indicating that the amount due next year will be less than what was paid this year.
He pointed out the continued efforts of various relevant state agencies and agencies regarding the governance and control of investment spending items, which contributes to providing a greater opportunity for private sector institutions to increase their rates of participation in many economic activities, in addition to the contribution of these measures to controlling the financial performance of the budget.
The Prime Minister pointed out the completion of the fourth review with International Monetary Fund officials within the Extended Fund Facility arrangement, under which Egypt will receive $1.2 billion, and the statement issued by the head of the International Monetary Fund mission to Egypt, Ivana Vladkova Hollar, during which she explained that the agreement had been reached. An agreement was reached at the expert level with the Egyptian authorities regarding the fourth review within the Extended Fund Facility arrangement.
It also confirmed that the Egyptian authorities continued to implement key policies to maintain macroeconomic stability, despite the ongoing regional tensions that are causing a sharp decline in Suez Canal revenues.
