Egypt posts record $13bn primary surplus despite Suez Canal revenue drop

RIYADH: Egypt posted a record primary surplus of 629 billion Egyptian pounds ($13 billion) in fiscal year 2024–2025, despite a 60 percent drop in Suez Canal revenues, the presidency said in a statement.

During a meeting with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk, President Abdel Fattah El-Sisi was briefed on the country’s preliminary fiscal performance, which showed a surplus equated to 3.6 percent of gross domestic product.

The result represents an 80 percent increase compared to the 350 billion pounds achieved during the 2023-2024 fiscal year.

The finance minister said the strong performance was delivered despite significant external shocks, most notably the sharp decline in Suez Canal revenues, which cost the budget an estimated 145 billion pounds compared with initial projections.

He added that the results coincided with improvements across all major economic indicators, particularly in private investment, industrial activity, and exports.

Egypt posts record $13bn primary surplus despite Suez Canal revenue drop

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