{"id":596003,"date":"2019-08-18T04:00:47","date_gmt":"2019-08-18T04:00:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years\/"},"modified":"2019-08-18T04:00:47","modified_gmt":"2019-08-18T04:00:47","slug":"finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years\/","title":{"rendered":"FinMin eyes more ambitious debt-to-GDP ratio targets for Egypt within three years"},"content":{"rendered":"

<\/a> FinMin eyes more ambitious debt-to-GDP ratio targets within three years:<\/b> The Finance Ministry is planning to reduce Egypt\u2019s debt-to-GDP ratio to pre-2011 levels of 77.5% by the end of FY2021-2022, according to a ministry statement<\/a>. This is lower than the previous target announced in March<\/a>, which aimed to reduce debt to 80% of GDP by 2022. Debt levels sat at 90.5% of GDP at the end of FY2018\/2019, having shrunk from 108% at the end of FY2016-2017. The ministry is targeting a ratio of 82.5% at the end of the current fiscal year.<\/p>\n

Average debt maturity climbs to 3.3 yrs for the first time: <\/b>The ministry has raised the average maturity of the government\u2019s outstanding debt to 3.3 years for the first time, government sources told Enterprise. The average was previously 1.5 years before gradually inching up to the current level. \u201cWe will continue to focus on [issuing] longer-maturity debt, which is in high demand from foreign investors,\u201d the sources said. A senior official told us in January<\/a> that the government will issue 10- and 30-year bonds this fiscal year to cover interest on 3- and 9-month treasury bills, and reduce pressure on the budget. The reliance on short-term T-bills has meant that the government has had to return to the debt markets to both refinance maturing debt and embark on new debt financing.<\/p>\n

Alongside issuing bonds with longer maturities, <\/b>the ministry will also start repaying outstanding short-term debt using the state\u2019s monthly primary budget surplus, rather than borrowing to refinance. The government achieved a primary surplus of EGP 104 bn last fiscal year, and is aiming to increase the figure to EGP 149 bn this fiscal year, according to Finance Ministry figures.<\/p>\n","protected":false},"excerpt":{"rendered":"

FinMin eyes more ambitious debt-to-GDP ratio targets within three years: The Finance Ministry is planning to reduce Egypt\u2019s debt-to-GDP ratio to pre-2011 levels of 77.5% by the end of FY2021-2022, according to a ministry statement. This is lower than the previous target announced in March, which aimed to reduce debt to 80% of GDP by […]<\/p>\n","protected":false},"author":1,"featured_media":596004,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[2653,7106,72,276,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596003","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budgeting","tag-debt","tag-enterpriseam","tag-finance-ministry","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"64f406aa-b9a7-4c2d-b829-de5e9ce1119d","is_powered_by":true,"section_story_id":"c07f6439-3bae-49d5-870e-8bd7554ddeba","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/1\/185.jpg","photo_position":"above","related_issue":[595996],"teaser":"","voice_url":""},"yoast_head":"\nFinMin eyes more ambitious debt-to-GDP ratio targets for Egypt within three years - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin eyes more ambitious debt-to-GDP ratio targets for Egypt within three years\" \/>\n<meta property=\"og:description\" content=\"FinMin eyes more ambitious debt-to-GDP ratio targets within three years: The Finance Ministry is planning to reduce Egypt\u2019s debt-to-GDP ratio to pre-2011 levels of 77.5% by the end of FY2021-2022, according to a ministry statement. 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The new figure is more ambitious than targets announced in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546228,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/09\/govt-eyes-84-debt-to-gdp-ratio-in-fy-2022-23\/","url_meta":{"origin":596003,"position":1},"title":"Gov\u2019t eyes 84% debt-to-GDP ratio in FY 2022-23","author":"enterpriseam admin","date":"9 May 2022","format":false,"excerpt":"The Madbouly government wants to bring Egypt\u2019s debt-to-GDP ratio down to 84% in FY 2022-2023, according to a document seen by Bloomberg Asharq. This is the first time the debt target for next fiscal year has been revised since the Finance Ministry in January said it hoped to bring the\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599633,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/06\/did-the-finmin-revise-upwards-its-public-debt-targets-for-egypt\/","url_meta":{"origin":596003,"position":2},"title":"Did the FinMin revise upwards its public debt targets for Egypt?","author":"enterpriseam admin","date":"6 January 2019","format":false,"excerpt":"**#3 FinMin revises upwards its public debt targets for Egypt: The Finance Ministry is targeting reducing Egypt\u2019s public debt to 80-85% of GDP by the end of FY2021-22, according to an initial draft of the FY2019-20 state budget presented to President Abdel Fattah El Sisi last week, according to an\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598689,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/finmin-to-set-new-medium-term-economic-targets-as-global-macro-headwinds-build\/","url_meta":{"origin":596003,"position":3},"title":"FinMin to set new medium-term economic targets as global macro headwinds build","author":"enterpriseam admin","date":"2 June 2019","format":false,"excerpt":"EXCLUSIVE- FinMin to set new medium-term economic targets as global macro headwinds build: The Finance Ministry is on track to specify \u201cmore realistic\u201d medium-term targets for Egypt\u2019s key macro indicators in light of a challenging outlook for global growth and volatility in emerging markets, according to official documents seen by\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573389,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/egypt-eyes-4-6-budget-deficit-82-5-debt-to-gdp-ratio-by-2023-maait\/","url_meta":{"origin":596003,"position":4},"title":"Egypt eyes 4.6% budget deficit, 82.5% debt-to-GDP ratio by 2023 -Maait","author":"enterpriseam admin","date":"4 August 2020","format":false,"excerpt":"Gov\u2019t eyes 4.6% budget deficit, 82.5% debt-to-GDP ratio by 2023 -Maait: Egypt is looking to narrow the budget deficit to 4.6% by FY2022-2023, down from 7.8% in FY2019-2020, Finance Minister Mohamed Maait said in an interview with Oxford Business Group. The government is also planning to maintain a 2% annual\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597906,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/","url_meta":{"origin":596003,"position":5},"title":"FinMin gives update on fiscal performance as the IMF arrives in Cairo","author":"enterpriseam admin","date":"8 May 2019","format":false,"excerpt":"FinMin gives update on fiscal performance as the IMF arrives in Cairo: The budget deficit shrank to 5.3% of GDP in the first nine months of FY2018-19, compared to 6.2% in the same period a year earlier, Finance Minister Mohamed Maait announced in a press conference yesterday, according to a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=596003"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596003\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596004"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596003"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596003"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}