Egypt posted a primary budget surplus of EGP 629 billion in FY2024/25, equal to 3.6% of GDP, the highest on record, according to a presidential statement released Saturday, August 16.
The figure is up 80% from the previous year’s surplus of EGP 350 billion.
Finance Minister Ahmed Kouchouk said during a meeting with President Abdel Fattah El-Sisi and Prime Minister Mostafa Madbouly that the results were achieved despite external shocks, most notably a 60% decline in Suez Canal revenues from budget estimates, which led to a shortfall of around EGP 145 billion.
The minister noted that the fiscal outcome came alongside stronger economic indicators, with higher levels of private investment, industrial activity, and exports.
According to the statement, tax revenues jumped 35% to reach about EGP 2.2 trillion, marking the fastest growth in recent years. The government attributed this to an expansion of the tax base, new tax facilities, and improved trust with the business sector.
Overall revenues in the 2024/25 budget rose 29%, while primary expenditures increased 16.3%.
