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Asharq Al-Awsat
Asharq Al-Awsat
Business
Cairo - Asharq Al-Awsat

Egypt Aims to Reduce Debt Rate to Below 90% of GDP by 2025

Egypt’s Finance Minister Mohamed Maait and his aides during their meeting on Saturday with officials from The Bank of America via video conference. (Asharq Al-Awsat)

Egypt aims to reduce the debt-to-GDP ratio from 90% by the end of the current fiscal year to 85% by 2025, Finance Minister Mohamed Maait said on Saturday.

It also seeks a primary surplus of 1.3% and targets reducing the budget deficit to 6.2%, he added in a press statement.

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