Finance Minister Ahmed Kouchouk made the rounds on the talk shows last night to shed light on the newly drafted FY 2024-25 state budget. He phoned in to Yahduth Fi Masr’s Sherif Amer (watch, runtime: 4:48 | 15:34) and Masaa DMC’s Osama Kamal (watch, runtime: 19:03), where he walked through headline figures and key fiscal assumptions.

“We hope this will be a budget that supports growth, stability, and rebuilding trust with the business community,” Kouchouk told Kamal. Kouchouk affirmed to both Kamal and Amer that “every year, we include contingency reserves and allocations to deal with unforeseen events,” referring to ongoing global economic uncertainty.

“The figures don’t always paint the full picture,” Kouchouk said in relation to concerns about increased debt servicing costs. The minister said that debt servicing is primarily driven by high interest rates — not increased borrowing — and also pointed to the impact of the exchange rate. “The situation is on track to improve significantly, thanks to continued primary budget surpluses and the anticipated decline in interest rates,” he said.

ICYMI- Finance Minister Ahmed Kouchouk delivered his budget statement to the House on Tuesday, giving us the first proper look at the draft state and public government budgets for the next fiscal year. You can read our rundown of the budget here.

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