Egypt to impose strict limits on public investments, debt in FY 2024/25

During a meeting with media and press professionals on Sunday, Maait provided key insights into the draft state budget for the new fiscal year, set to begin in July.

The purpose of the new investment ceiling is to create more opportunities for the private sector, stated Maait.

He emphasized that all investment projects undertaken by state-owned entities will be subject to this limit.

Meanwhile, the state is adopting a new strategy to sustainably lower public, which cannot be surpassed without the approval of the president, cabinet, and parliament.

A limit will also be placed on guarantees during the coming year to reduce external debt.