Egyptian Cabinet dismisses proposal to transfer Suez Canal ownership to Central Bank

The Cabinet stated that such proposals have been previously assessed and deemed unsuitable due to economic, financial, and institutional considerations. They emphasized that transferring assets and liabilities between state entities does not reduce the overall debt burden. The Suez Canal is considered a strategic public utility linked to national security and sovereignty, and the government has no intention of exchanging, mortgaging, or transferring its ownership.

The Cabinet also noted that a recent settlement of the National Media Authority's debt to the National Investment Bank was a specific case and not a general model for public debt management. The government is pursuing a comprehensive approach to debt management, focusing on improving public finance indicators, increasing revenues, and maximizing returns from state-owned assets within transparent frameworks.