Prime Minister Mostafa Madbouly announced that Egypt is currently aiming to achieve the lowest debt reduction in its history, RT reported on Sunday.
He confirmed that the government has developed several scenarios in preparation for the worst economic “bumps” to deal with and achieve growth targets.
Madbouly said that Egypt is working to localize sustainable industries that will continue to operate for years.
He explained that Egypt aims to achieve a general budget surplus and reduce inflation rates by more than 13 percent this year.
The Prime Minister indicated that the current export growth rate will be approximately 20 percent by the end of the year, and assured that, “We aim to maintain this rate and not fall below it.”
Madbouly stated that he has held meetings with the heads of export councils to address any challenges facing industry and exports.
Bolstering Egypt’s exports
The Egyptian Prime Minister met on Sunday with heads and officials of export councils to discuss developments in Egyptian exports and plans to increase them in the coming period.
During the meeting, Madbouly emphasized that the state aims to achieve a qualitative leap in the volume of Egyptian exports, and noted that allocations for the export burden refund program have been doubled this year in an effort to further encourage investors to boost their exports.
The government was eager to consult with all exporters to reach a consensus formula for the new Export Rebate Program, which has already been activated.
Madbouly assured that he is monitoring this issue on a regular basis.
The Prime Minister also reviewed the measures taken by the government recently to facilitate customs clearance and provide various incentives, stressing that the country is capable of doubling its exports and achieving its set targets.
The Egyptian Finance Minister reviewed a report on the amounts disbursed under the Export Rebate Program, explaining that the total disbursements during the years 2024/2025 and 2025/2026 amounted to LE19.3 billion, while another three billion is currently being disbursed, with efforts being made to settle the remaining overdue receivables through specific mechanisms.
