Egypt recorded a historic primary surplus of EGP 330 billion during the first eight months of the fiscal year (July 2024–February 2025), according to Finance Minister Ahmed Kouchouk. During a meeting with Prime Minister Mostafa Madbouly, Kouchouk highlighted a 38.4 percent year-on-year increase in tax revenues, marking the highest annual growth rate in years. He also noted that debt management strategies have helped distribute the burden of interest payments throughout the fiscal year. Spending on health and education rose by 29 percent and 24 percent, respectively, while allocations for social benefits, grants, and subsidies surged by 44 percent. However, treasury-funded investments grew at a slower pace due to government efforts to prioritize spending and keep investment within budget limits. The announcement comes as the International Monetary Fund (IMF) completes the fourth review of Egypt’s Extended Fund Facility (EFF), unlocking a USD 1.2 billion (EGP 60.8 billion) disbursement. This latest tranche is part of the IMF’s expanded USD 8 billion (EGP 405.4 billion) loan package, which was increased by USD 5 billion (EGP 253.4 billion) in March 2024 to support economic stability amid ongoing global and regional challenges. In addition to…
