Egypt plans to issue local sukuk in the first half of the current fiscal year as part of efforts to diversify funding sources and reduce debt burdens, Finance Minister Ahmed Kouchouk said on Monday. Kouchouk told investors at a panel organised by Al Ahly Pharos Securities that the ministry is working with the Ministry of Planning and International Cooperation to expand development financing from international partners. He said the government is committed to maintaining balanced fiscal policies to support economic growth while safeguarding financial stability and discipline. Egypt also aims to roll out new financing, savings and investment instruments to broaden economic activity, the minister added. The government's integrated financing strategy for the fiscal year focuses on lowering debt levels and extending the average maturity of public debt. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
