RIYADH: Egypt’s budget for the next fiscal year has received final approval by the country’s House of Representatives, along with the Economic and Social Development Plan and the medium-term plan through 2029/30.
Finance Minister Ahmed Kouchouk explained that the budget targets revenues of approximately 4.1 trillion Egyptian pounds ($82 billion) in the 2026/27 fiscal year, representing annual growth of 32 percent, while expenditures are projected at 5.2 trillion pounds, up 13 percent from the previous fiscal year, according to a statement.
The approval comes as Egypt continues implementing a broad economic reform program aimed at strengthening public finances and restoring macroeconomic stability.
In April, S&P Global affirmed the country’s sovereign credit ratings at “B/B” with a stable outlook, citing sustained progress in macroeconomic reforms, stronger external buffers and an improving medium-term growth outlook despite persistent regional geopolitical risks.
“Thank you to all our partners who enriched the public dialogue and contributed to preparing an ambitious and balanced budget for the benefit of our country, our economy, and our people. We deeply appreciate the important discussions and observations within the House of Representatives, which reflect the concerns, priorities, and aspirations of the citizens,” Kouchouk said.
