{"id":703847,"date":"2026-05-19T00:00:00","date_gmt":"2026-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/egypt-targets-egp-1-2-tn-primary-surplus-target-in-cabinet-greenlit-general-budget-for-upcoming-fy-2\/"},"modified":"2026-05-19T00:00:00","modified_gmt":"2026-05-19T00:00:00","slug":"egypt-targets-egp-1-2-tn-primary-surplus-target-in-cabinet-greenlit-general-budget-for-upcoming-fy-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/19\/egypt-targets-egp-1-2-tn-primary-surplus-target-in-cabinet-greenlit-general-budget-for-upcoming-fy-2\/","title":{"rendered":"Egypt targets EGP 1.2 tn primary surplus target in cabinet-greenlit general budget for upcoming FY"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The cabinet has approved a debt-targeting draft <\/strong><strong>general<\/strong><strong> budget for the next fiscal year<\/strong>, which looks to build a EGP 1.2 tn primary surplus \u2014 or 5% of GDP \u2014 according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02fkxQXzdEf3Sw1HaFgx5pq4Z2Lw6kSvis7Vi7uA5SWmLXkKjgtnH4o6Bcsu6yU5M1l\" style=\"\">statement<\/a> on Thursday. Taking this approach will free up \u201cadditional credit for debt reduction and social protection,\u201d said Finance Minister Ahmed Kouchouk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state\u2019s deficit reduction goals seem unfazed by the war on Iran<\/strong>, with the minister laying a target to reduce the overall deficit to GDP by 1.2 percentage points to 4.9% by the end of the fiscal year. Alongside this, the draft general budget aims to reduce the public debt-to-GDP ratio to 78% over the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The increase in public revenues is projected to increase at a much faster pace than <\/strong><strong>spending. <\/strong>While public revenues will rise 27.6% to EGP 4.0 tn in the budget, expenditures will rise at a slower 13.2% y-o-y pace to a nonetheless larger EGP 5.1 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why this matters: <\/strong>Considering that inflation looks likely to remain elevated for longer on the back of energy price and other price pressures because of the war on Iran, the projected increase in spending in real terms will be minimal or even contract. With the final two reviews of our program with the IMF and worries of investor cold feet arising from market uncertainty and conflict in the region, the state is making clear that its commitment to balancing the books remains front and center of policy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Health, education, social protection, and support for production and exports are singled<\/strong><strong> out as \u201ctop priorities in public spending.<\/strong>\u201d Kouchouk mentions that EGP 832.3 bn will go towards social protection, up 12% from the year before. The minister also highlights the plan to spend EGP 90 bn on economic support programs, but highlights that \u201cEligibility for incentives is linked to tangible results on the ground.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state is also looking to see EGP 3.8 tn invested in Egypt for the 12-month period in <\/strong>its economic and social development plan for the next fiscal year, which was also given the thumbs up from the cabinet on Thursday, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/%D8%AE%D9%84%D8%A7%D9%84-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%87-%D8%A7%D9%84%D9%8A%D9%88%D9%85%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D8%AE%D8%B7%D8%A9-%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D8%A7\/1516838343819914\/\" style=\"\">separate cabinet statement<\/a>. Private investments will make up 59% of the total amount, with the remaining 41% coming from the state.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The state is still sticking with a 5.4% GDP growth target for the next fiscal despite the war on Iran, <\/strong>rising to 6.8% by the fiscal year 2029-30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The draft general budget aims to reduce the public debt-to-GDP ratio to 78% over the next fiscal year<\/p>\n","protected":false},"author":1,"featured_media":703848,"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":[7335],"tags":[7420,276,12389],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-703847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-big-story-today","tag-cabinet","tag-finance-ministry","tag-the-big-story-today","wpautop","entry"],"acf":{"mongo_id":"bb4e138f-cf31-4dfa-9440-c851016e2f0e","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/3\/1302.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Fiscal discipline in a time of war","related_issue":[703842],"teaser":"The draft general budget aims to reduce the public debt-to-GDP ratio to 78% over the next fiscal year"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The cap is equivalent to spending forecasts stated in the draft\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/750.jpg?fit=%2C&ssl=1&resize=350%2C200","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":703847,"position":2},"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 &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\/2022\/5\/101.jpg?fit=%2C&ssl=1&resize=350%2C200","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":703847,"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":544781,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/govt-lowers-fy-2022-2023-budget-targets-as-ukraine-conflict-strains-finances\/","url_meta":{"origin":703847,"position":4},"title":"Gov\u2019t lowers FY 2022-2023 budget targets as Ukraine conflict strains finances","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"FinMin trims budget targets as Ukraine conflict weighs on state finances: The Finance Ministry has revised downwards its fiscal targets for FY 2022-2023 as rising commodities prices put pressure on public finances, according to figures published in an Ittihadiya statement yesterday evening.Deficit still on course to narrow: The government now\u2026","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\/2022\/3\/272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568336,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/egypt-misses-revenue-targets-thanks-to-pandemic-but-expenses-are-down-too\/","url_meta":{"origin":703847,"position":5},"title":"Egypt misses revenue targets thanks to pandemic, but expenses are down, too","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Egypt recorded a budget deficit of EGP 462 bn \u2014 or 7.9% of GDP \u2014 in FY2019-2020, according to Finance Ministry figures (pdf) published this weekend. 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