Egypt aims to boost annual FX revenue to $300 bln by 2030

Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal.

09.01.24 | Source: Ahram Online

The government aims to increase annual exports from $39.62 billion in FY2022/2023 to $145 billion in 2030.

Egypt wants to boost tourism revenues by 20 percent annually from $13.63 billion in FY2022/2023 to $45 billion in 2030.

The country also seeks to increase annual remittances from $22.07 billion in FY2022/2023 to $53 billion in 2030.

Egypt's ambitious plan includes raising annual FDIs to $19 billion in 2030, and increasing real estate investments by 10 percent annually.

Suez Canal annual revenues are planned to increase from $8.76 billion in FY2022/2023 to $26 billion in 2030, according to the scheme.

The government plans to increase the value of outsourcing exports to $13 billion in 2030 from less than $5 billion.

Egypt is seeking additional funding to close a $17 billion financing gap by 2026, projected to be between $6 and $8 billion for FY2023/2024.

Towards this end, the government announced in July a plan to bring in $191 billion in annual US dollar revenues by 2026.