{"id":678475,"date":"2025-12-23T00:00:00","date_gmt":"2025-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=678475"},"modified":"2025-12-26T12:46:36","modified_gmt":"2025-12-26T12:46:36","slug":"the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/","title":{"rendered":"The FY 2026\/27 budget is designed to prove the reforms are here to stay"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends, and happy hump day.<\/strong> We\u2019ve got a light and brisk issue for you this afternoon, from our take on unusual marketing campaigns all the way to the story behind one of Egypt\u2019s few heritage-inspired fashion brands. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But first, the news.<\/strong><\/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 TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> ? <strong>The Ministry of Finance has begun drafting a state budget that marks a <\/strong><strong>definitive end to the current era of economic emergency.<\/strong> The FY 2026-27 budget \u2014 set to be presented to the cabinet in preliminary form by late January \u2014 is being designed as a structural shift in fiscal policy, a senior government official told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>This will be Egypt\u2019s first budget in years to operate largely independently of the IMF. With the current USD 8 bn program projected to conclude in the first quarter of the next fiscal year, the new budget is being engineered to prove that the discipline of the last two years was a policy choice, not just a conditionality.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The post-IMF budget attempts to lock in the austerity measures that <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d504a87-5e19-4eab-b95d-3f289427e42f\/no-more-buts-as%253cmark%253e-imf%253c%2Fmark%253e-signs-off-on-key-reviews-of-our-usd-8-bn-assistance-package\" style=\"\" rel=\"noopener\">gained the Fund\u2019s<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3d504a87-5e19-4eab-b95d-3f289427e42f\/no-more-buts-as%253cmark%253e-imf%253c%2Fmark%253e-signs-off-on-key-reviews-of-our-usd-8-bn-assistance-package\" style=\"\" rel=\"noopener\">approval this week<\/a><\/strong><strong>.<\/strong> The strict ceiling on public investment will remain, and may even be lowered further, to clear the lane for private sector participation, while ministries are again being required to submit three-year budget projections to end the cycle of surprise supplemental appropriations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One of the most significant parts of the draft budget is a concrete timeline for the transition <\/strong><strong>from in-kind to banknote-based subsidies<\/strong>, along with the return of possible fuel price hikes and a comprehensive social package that includes new wage increases and targeted incentives.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want the full rundown? <\/strong>Stay tuned for tomorrow morning\u2019s issue of EnterpriseAM, where we will have the full story on what the country\u2019s first post-IMF budget will look like.<\/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>It\u2019s another calm afternoon in the global press as we approach the <\/strong><strong>annual Christmastime slowdown. <\/strong>Getting top billing is gold extending its rally earlier today after surpassing USD 4.4k per ounce for the first time ever yesterday. Gold rose just shy of USD 4.5k per ounce amid a weakening USD and rising demand for safe-haven investments. Silver remains at a record high, advancing 0.7% to USD 69.7 per ounce after peaking at USD 70 earlier. Read more on <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/india\/gold-hits-record-high-safe-haven-demand-silver-climbs-new-peak-2025-12-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO-<\/strong> Copper reached an all-time high, nearing USD 12k per ton, with prices rising by 0.9%. The record comes as mine outages and trade dislocations driven by US President Donald Trump\u2019s tariff agenda paved the way for the industrial metal\u2019s biggest annual gain since 2009 \u2014 seeing a 37% price lift this year. Read more on <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-12-23\/copper-hits-12-000-for-first-time-as-tariff-trade-upends-market\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/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\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Don\u2019t forget your jacket, we\u2019re in for another cool, breezy day in Cairo tomorrow. The mercury is set to peak at just 22\u00b0C before cooling down to 12\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and happy hump day. We\u2019ve got a light and brisk issue for you this afternoon, from our take on unusual marketing campaigns all the way to the story behind one of Egypt\u2019s few heritage-inspired fashion brands. But first, the news. THE BIG STORY TODAY- ? The Ministry of Finance has begun drafting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":678476,"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":[7213],"tags":[279,104,633,276,272,278,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-678475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-budget-watch","tag-economy","tag-enterprisepm","tag-finance-ministry","tag-imf","tag-state-budget","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"38e5d06b-d223-419c-83d8-9ed8f1485d37","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/7\/2549.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The FY 2026\/27 budget is designed to prove the reforms are here to stay","related_issue":[678473],"teaser":""},"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>The FY 2026\/27 budget is designed to prove the reforms are here to stay - 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\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The FY 2026\/27 budget is designed to prove the reforms are here to stay\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and happy hump day. 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The Ministry of Finance has begun drafting [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-23T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-26T12:46:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2549.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The FY 2026\/27 budget is designed to prove the reforms are here to stay\",\"datePublished\":\"2025-12-23T00:00:00+00:00\",\"dateModified\":\"2025-12-26T12:46:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\"},\"wordCount\":511,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2549.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budget watch\",\"economy\",\"EnterprisePM\",\"Finance Ministry\",\"IMF\",\"state budget\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2025\/12\/23\/the-fy-2026-27-budget-is-designed-to-prove-the-reforms-are-here-to-stay\/\",\"name\":\"The FY 2026\/27 budget is designed to prove the reforms are here to stay - 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We have a brisk issue for you today, but there\u2019s plenty to get into. The government is going all-in on exports, with subsidy allocations set to rise to EGP 50 bn in the next budget. We\u2019ve also got markets in flux as the greenback slides and gold\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":695491,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/22\/house-of-representatives-refers-fy-2026-27-draft-budget-to-planning-committee\/","url_meta":{"origin":678475,"position":1},"title":"House of Representatives refers FY 2026-27 draft budget to Planning Committee","author":"enterpriseam admin","date":"22 April 2026","format":false,"excerpt":"Good afternoon, ladies and gents, and happy almost weekend. In line with the weather, we\u2019ve got a brisk and breezy issue for you this afternoon. We\u2019re kicking things off with the incredible story of Hoda Elshorbagy, an Egyptian wheelchair racer who taught herself to race via YouTube and just cracked\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550853,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/09\/this-evening-maait-el-said-present-state-spending-plans-for-next-fiscal-year-at-the-house-paymob-closes-egypts-largest-ever-fintech-series-b-round\/","url_meta":{"origin":678475,"position":2},"title":"THIS EVENING: Maait, El Said present state spending plans for next fiscal year at the House + Paymob closes Egypt\u2019s largest ever fintech series B round","author":"enterpriseam admin","date":"9 May 2022","format":false,"excerpt":"Happy Monday, wonderful people. It\u2019s shaping up to be a relatively eventful \u2014 and certainly an interesting \u2014 news day as we get into the full swing of budget season and Planet Startup continues to make headlines.THE BIG STORIES TODAY #1- Maait, El Said present state spending plans for next\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597662,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/budget-deficit-unexpectedly-narrows-in-fy-2022-2023-finmin\/","url_meta":{"origin":678475,"position":3},"title":"Budget deficit unexpectedly narrows in FY 2022-2023 -FinMin","author":"enterpriseam admin","date":"13 August 2023","format":false,"excerpt":"The budget deficit narrowed 0.1 percentage points y-o-y to 6.0%","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/549.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584387,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/30\/cabinet-approves-fy-2023-2024-budget\/","url_meta":{"origin":678475,"position":4},"title":"Cabinet approves FY 2023-2024 budget","author":"enterpriseam admin","date":"30 March 2023","format":false,"excerpt":"The Finance Ministry has trimmed next year\u2019s growth outlook to 4.1%","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/678.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617298,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/19\/this-evening-finmin-shares-preview-of-next-years-fiscal-budget\/","url_meta":{"origin":678475,"position":5},"title":"THIS EVENING: FInMin shares preview of next year\u2019s fiscal budget","author":"enterpriseam admin","date":"19 March 2024","format":false,"excerpt":"Good afternoon, folks, and happy hump day. The news cycle remains relatively subdued today as we inch towards the back half of the week.THE BIG STORY TODAY FinMin gives a preview of next fiscal year\u2019s budget: The government plans to spend a total of EGP 596 bn on subsidies in\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/969.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\/678475","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=678475"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/678475\/revisions"}],"predecessor-version":[{"id":678725,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/678475\/revisions\/678725"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/678473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/678476"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=678475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=678475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=678475"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=678475"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=678475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}