{"id":661423,"date":"2025-02-27T00:00:00","date_gmt":"2025-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/27\/govt-debt-declined-to-77-4-of-gdp-by-the-end-of-2024\/"},"modified":"2025-02-27T00:00:00","modified_gmt":"2025-02-27T00:00:00","slug":"govt-debt-declined-to-77-4-of-gdp-by-the-end-of-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/27\/govt-debt-declined-to-77-4-of-gdp-by-the-end-of-2024\/","title":{"rendered":"Gov\u2019t debt declined to 77.4% of GDP by the end of 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morn<\/strong><strong>ing, friends. <\/strong>Enjoy your final sips of morning coffee and breakfast bagels for some time as it\u2019s the last workday before we welcome Ramadan. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another cold day in Cairo, with a high of 20\u00b0C and a low of 11\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s as cold in Alexandria<\/strong>, with a high of 20\u00b0C and a low of 10\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we now cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- <\/strong><strong>IFC, Madb<\/strong><strong>ouly government to agree on airport privatization plans by mid-March:<\/strong> The International Finance Corporation (IFC) is expected to reach an agreement with the Egyptian government on its privatization plan for the management of 11 airports by mid-March, <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1FkYiH39hS\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing Civil Aviation Minister Sameh Elhefny comments during a press conference. The first phase will see the IFC offer the Hurghada Airport, followed by Sphinx Airport. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Int\u2019l companies are eyeing our airports:<\/strong> Major global companies have expressed interest in managing Egyptian airports, according to Elhefny, including the three largest operators in Europe, he said. While Elhefny didn\u2019t name which companies were interested, Hassan Allam Holding and France\u2019s Groupe A\u00e9roports de Paris (ADP France) submitted a joint proposal in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4b3571df-662a-4385-9c22-7d7d07800685\/hassan-allam-and-adp-france-submit-joint-proposal-to-manage-egyptian%253cmark%253e-airports%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">December<\/a> to manage and operate Egyptian airports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Refresher:<\/strong> Reports revealed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a54da40-b03b-4f9f-9436-508af962ec60\/ifc-to-complete-its-airport-privatization-plan-within-months\" style=\"\" rel=\"noopener\">earlier this month<\/a> that the IFC\u2019s full airport privatization plan should be out within the next six months. The plan will include the technical, financial, and legal specification to speed up the airport privatization process. This comes amid the government\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e94bb97-4820-4349-bc3a-d65afa8cdcb1\/egypt-looks-towards-airport-expansion,-smart-policy,-and-the-private-sector-to-support-its-ambitious-aviation-goals\" style=\"\" rel=\"noopener\">plans to invite private sector players<\/a>, including foreign companies, to take over the management of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/43121952-657a-4e59-8072-8bcade900259\" style=\"\" rel=\"noopener\">all of Egypt\u2019s airports<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Investment Minister Hassan El K<\/strong><strong>hatib is expected to finalize a trade agreement with <\/strong><strong>Morocco today to re<\/strong><strong>solve an <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a5e1949-35be-40b3-a104-68eec41d6125\/gov%25e2%2580%2599t-is-in-talks-with-moroccan-authorities-to-release-egyptian-exports-held-up-at-ports\" style=\"\" rel=\"noopener\">export standoff<\/a><\/strong> that has left 150 Egyptian containers \u2014 loaded with ceramics, food products, and insulation materials \u2014 stranded at Moroccan ports for two weeks, a government source told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/02\/26\/1872171\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The agreement will reportedly be inked today during El Khatib\u2019s visit to Morocco. One proposed solution is for Egypt to increase imports of Moroccan goods to address a trade imbalance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#3- <\/strong><strong>State-owned fertilizer producer Delta Fertilizers will no longer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1da96967-4d91-4b80-a568-ed44adb745ba\/companies-line-up-to-revive%253cmark%253e-delta-fertilizers%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">be sold to<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1da96967-4d91-4b80-a568-ed44adb745ba\/companies-line-up-to-revive%253cmark%253e-delta-fertilizers%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">a strategic<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1da96967-4d91-4b80-a568-ed44adb745ba\/companies-line-up-to-revive%253cmark%253e-delta-fertilizers%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">investor<\/a><\/strong>, despite interest from five local and Gulf firms, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/02\/26\/1872145\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. Its parent company Chemical Industries Holding had initially planned to use the sale proceeds to finance a long-overdue restructuring, but will now fund the upgrade through a mix of internal resources and bank loans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the plan now?<\/strong> Chemical Industries Holding plans to move forward with a phased rehabilitation of Delta Fertilizers, with the first phase expected to be completed this year at an initial cost of EUR 60 mn. The upgrade aims to boost production capacity to 1.2k tons of ammonia and 1.6k tons of urea. The full rehabilitation could cost between USD 350-450 mn, with advisory firm Baker Tilly conducting a detailed investment cost assessment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DATA POINT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Egypt\u2019s government debt dec<\/strong><strong>lined to 77.4% of GDP by the end of 2024<\/strong>, down from 78.2% in September, marking its lowest level since March 2020, according to data from the Institute of International Finance seen by <a target=\"_blank\" href=\"https:\/\/x.com\/AlArabiyaBN_EG\/status\/1894658667154141684\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The gov\u2019t is set to have a busy year in the debt market:<\/strong> The Finance Ministry is planning to increase its local debt issuances for the fourth quarter of the current fiscal year to approximately EGP 1.8 tn, up from EGP 1.6 tn, as the government looks to meet obligations for one-year debt maturities that were issued since last March, a government official told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, more debt issuances are incoming:<\/strong> The Finance Ministry is gearing up to complete its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/10f896f2-ceaf-4d73-8314-128089de9cc8\/egypt-to-complete-egp-2-3-bn-sukuk-issuance-within-a-month\" style=\"\" rel=\"noopener\">first sovereign sukuk issuance<\/a> of the year within the next month, with the issuance set to be around EGP 2-3 bn, a government official told EnterpriseAM earlier this week. The ministry is also looking to tap international debt markets with a USD 1.5 bn sukuk issuance during the final quarter of the current fiscal year, along with plans to issue between <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3930eebd-fc5a-4bc7-b7a3-5960ba471fc1\/egypt-to-return-to-international-debt-markets-as-soon-as-next-month%3F\" style=\"\" rel=\"noopener\">USD 1-1.5 bn worth of green bonds or eurobonds<\/a> and its first <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e85fd218-3cec-40ff-a232-8becdb810dd4\/egypt-re-enters-global-debt-market-with-usd-2-bn-eurobond-issuance\" style=\"\" rel=\"noopener\">social bonds<\/a> in 4Q 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward: <\/strong>Extending debt maturities represents a key tool for the government to ease the annual debt burden and reduce debt service payments, our source said. This entails gradually replacing short-term debt with longer-term, coupled with the reintroduction of zero-coupon bonds, whose returns are paid at maturity. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CIRCLE YOUR CALENDAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>Kuw<\/strong><strong>aiti Prime Minister Sheikh Ahmed Al Sabah <\/strong><strong>will visit soon <\/strong>to announce new joint investment projects, Prime Minister Moustafa Madbouly <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid024MFqQJ13YUkMnZ4hjKK9BKhguHmmCsbMAb5Dm3eRVKM7xMyxdpUtz9CYaHi9y5Sml?rdid=bpQ2I3XBhfcslhlc#\" style=\"\" rel=\"noopener\">said<\/a> during his weekly presser yesterday. The visit would follow Madbouly\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/23c012a6-56cc-41a4-b316-eff2cb983dbd\/madbouly-discusses-potential-investments-during-visit-to%253cmark%253e-kuwait%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">recent visit<\/a> to Kuwait where he touted potential investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nvidia posts strong gains: <\/strong>The US chipmaking giant\u2019s earnings report saw revenues rise 79% y-o-y to USD 38.3 bn in 4Q 2024, leading full-year earnings to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/02\/26\/nvidia-nvda-earnings-report-q4-2025.html\" style=\"\" rel=\"noopener\">more than double<\/a> to reach USD 130.5 bn, exceeding analyst expectations. CEO Jensen Huang <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/d634d069-e945-49d8-823c-953ed6c6d278\" style=\"\" rel=\"noopener\">dismissed concerns<\/a> of Chinese AI startup DeepSeek\u2019s claims affecting the company\u2019s performance, touting \u201camazing\u201d demand for high-end chips.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CLOSER TO HOME- <\/strong>Hamas and Israel <a target=\"_blank\" href=\"https:\/\/www.aljazeera.com\/news\/liveblog\/2025\/2\/26\/live-hamas-says-deal-reached-to-end-israeli-delay-israel-bombs-syria\" style=\"\" rel=\"noopener\">exchanged<\/a> four dead Israelis for 642 Palestinian captives early this morning, days before the first phase of the fragile Gaza ceasefire is set to end. Meanwhile, US Special Envoy to the Middle East Steve Witkoff said <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-02-26\/witkoff-says-summit-of-developers-will-convene-on-gaza-future\" style=\"\" rel=\"noopener\">a \u201csummit\u201d of regional real estate developers and planners<\/a> will be held soon to discuss Trump\u2019s forcible displacement plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cI think when people see some of the ideas that come from this, they\u2019re going to be amazed,\u201d<\/strong> Witkoff said, without providing further details.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- We might start looking elsewhere for Trump coverage: <\/strong>The White House <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/white-house-bars-ap-reuters-other-media-covering-trump-cabinet-meeting-2025-02-26\/\" style=\"\" rel=\"noopener\">denied reporters<\/a> from Reuters, Associated Press and other news outlets from covering the US President\u2019s first cabinet meeting held yesterday. The new policy, announced Tuesday, will see the Trump administration pick and choose who is allowed to cover events in \u201csmaller spaces,\u201d including the Oval Office.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends. Enjoy your final sips of morning coffee and breakfast bagels for some time as it\u2019s the last workday before we welcome Ramadan. PSA- WEATHER- It\u2019s another cold day in Cairo, with a high of 20\u00b0C and a low of 11\u00b0C, according to our favorite weather app. It\u2019s as cold in Alexandria, with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":661424,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7204],"tags":[7106,72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-debt","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"5d932550-229e-4f60-a1f6-ee7a7a3a30d0","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/2\/29.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s government debt declined to 77.4% of GDP by the end of 2024","related_issue":[661421],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.9373d498-e03b-4c85-9fdd-c61c0d8da18d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t debt declined to 77.4% of GDP by the end of 2024 - 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\/2025\/02\/27\/govt-debt-declined-to-77-4-of-gdp-by-the-end-of-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t debt declined to 77.4% of GDP by the end of 2024\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. Enjoy your final sips of morning coffee and breakfast bagels for some time as it\u2019s the last workday before we welcome Ramadan. 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