Egypt's primary budget surplus jumped 80 per cent to around 629 billion Egyptian pounds, or 3.6 per cent of GDP, in the 2024/25 fiscal year despite external shocks, its finance minister said Saturday. Finance Minister Ahmed Kouchouk told President Abdel Fattah El-Sisi and Prime Minister Moustafa Madbouly that the strong fiscal performance came even as Suez Canal revenues fell by 60 per cent, costing the budget an estimated 145 billion pounds, the presidency said in a statement. He noted the surplus was accompanied by improvements in private investment, manufacturing and exports. Tax revenues surged 35 per cent to 2.2 trillion pounds, the sharpest rise in years, supported by broader compliance, new facilitation measures and stronger government-business trust. Total revenues grew 29 per cent in the 2024/2025 year, while primary spending rose 16.3 per cent, Minister Kouchouk said. Attribution: Amwal Al Ghad English
