{"id":630388,"date":"2018-04-19T03:50:13","date_gmt":"2018-04-19T03:50:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/19\/how-the-economic-reforms-will-help-rein-in-debt\/"},"modified":"2018-04-19T03:50:13","modified_gmt":"2018-04-19T03:50:13","slug":"how-the-economic-reforms-will-help-rein-in-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/19\/how-the-economic-reforms-will-help-rein-in-debt\/","title":{"rendered":"How the economic reforms will help rein in debt"},"content":{"rendered":"

<\/a> Egypt\u2019s fiscal reforms in general, and ongoing subsidy cuts in particular, will help keep rising debt from getting out of control<\/strong>, Finance Minister Amr El Garhy tells the Financial Times\u2019 Heba Saleh<\/a> in an interview on Wednesday. \u201cThe reduction in the overall deficit will be accompanied by a primary surplus of 2% of GDP, which means that, excluding interest payments, government revenues will be higher than its expenditure,\u201d he said. \u201cThis surplus will help us in settling part of our debt service or the debt itself, even if it is a small amount...It will help us reduce our addiction to debt,\u201d El Garhy added. The government is planning<\/a> to slash fuel subsidies 19.1% to EGP 89.08 bn and electricity subsidies 46.6% to EGP 16 bn next fiscal year.<\/p>\n

EFG Hermes\u2019 Mohamed Abu Basha agrees that the primary surplus is \u201ca very important structural improvement,\u201d<\/strong> and the first of its kind in \u201ctwo or three decades. \u2026 It means that, structurally, the country is not creating new deficits, and this is good for inflation and debt dynamics, which is primarily why we\u2019ll see debt-to-GDP ratios falling relatively quickly.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s fiscal reforms in general, and ongoing subsidy cuts in particular, will help keep rising debt from getting out of control, Finance Minister Amr El Garhy tells the Financial Times\u2019 Heba Saleh in an interview on Wednesday. \u201cThe reduction in the overall deficit will be accompanied by a primary surplus of 2% of GDP, which […]<\/p>\n","protected":false},"author":1,"featured_media":630389,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ec4b74e5-8428-4aaf-9a4c-a42279d8b35a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/4\/1822.jpg","photo_position":"above","related_issue":[630382],"teaser":"","voice_url":""},"yoast_head":"\nHow the economic reforms will help rein in debt - 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\/2018\/04\/19\/how-the-economic-reforms-will-help-rein-in-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How the economic reforms will help rein in debt\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s fiscal reforms in general, and ongoing subsidy cuts in particular, will help keep rising debt from getting out of control, Finance Minister Amr El Garhy tells the Financial Times\u2019 Heba Saleh in an interview on Wednesday. \u201cThe reduction in the overall deficit will be accompanied by a primary surplus of 2% of GDP, which […]\" \/>\n<meta property=\"og:url\" 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2020","format":false,"excerpt":"BUDGET WATCH- Austerity measures in the cards if crisis continues into FY2020-2021 -Maait: The government could cut back on spending in its FY2020-2021 budget if the covid-19 outbreak persists after July, Finance Minister Mohamed Maait said in a meeting with President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly\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\/5\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596003,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years\/","url_meta":{"origin":630388,"position":2},"title":"FinMin eyes more ambitious debt-to-GDP ratio targets for Egypt within three years","author":"enterpriseam admin","date":"18 August 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