Egyptian Prime Minister Moustafa Madbouly has reiterated his government's commitment to bringing down public debt levels, as Cairo steps up efforts to attract foreign investment and reduce reliance on external borrowing. In a high-level meeting on Tuesday with Central Bank of Egypt (CBE) Governor Hassan Abdalla and Minister of Finance Ahmed Kouchouk, the prime minister stressed the importance of maintaining a downward trajectory for Egypt's debt-to-GDP ratio while creating more space for private capital to fund development. "The focus remains on sustaining fiscal discipline and lowering dependence on foreign loans by enhancing investor confidence and deepening private sector partnerships," Prime Minister Madbouly said, according to an official Cabinet statement. The meeting, which also included Deputy Finance Minister Yasser Sobhi, examined strategies for broadening Egypt's investor base across currencies and markets, and striking a balance between spending on key projects and limiting debt exposure. Officials also reviewed plans to increase the role of public-private partnerships in infrastructure and green development as Egypt looks to unlock new sources of long-term financing. The push comes amid tighter global liquidity conditions and rising interest rates, which have heightened pressure on emerging markets with large external financing needs. Egypt has faced successive currency devaluations and soaring inflation in recent years, prompting authorities to seek more sustainable financing channels. Prime Minister Madbouly emphasised the need to support the private sector's role in economic activity, saying it was key to scaling up funding for development and strengthening Egypt's position in international markets. Attribution: Amwal Al Ghad English
