Egypt's economy grows 5.3% in first half of fiscal year, driven by private sector investment

Egypt's economy grew by 5.3% in the first half of the current fiscal year, according to Finance Minister Ahmed Kouchouk. This growth was supported by increased private sector investment, improved external inflow indicators such as tourism, non-oil exports, remittances, and foreign direct investment. The country also recorded a primary surplus of 3.5% of GDP between July and March, with tax revenues increasing by 29% during the same period. The overall budget deficit narrowed to 5.2% of GDP in the July-March period, down from 6% in the previous fiscal year. External debt owed by budget sector entities decreased by approximately $4 billion in June 2025 compared to 2023, and Egypt's debt-to-GDP ratio fell by about 13% over the past two fiscal years. Kouchouk noted that credit rating agencies reflect a stable and positive assessment of the Egyptian economy, and the government is focused on preserving fiscal discipline, lowering debt, and improving economic competitiveness while balancing these with economic support and social protection programs.