President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly and Finance Minister Ahmed Kouchouk. The official spokesperson of the presidency, Ambassador Mohamed El-Shenawy, stated that President El-Sisi reviewed the preliminary financial performance indicators for the fiscal year 2024/2025, which showed distinguished, good, and balanced indicators. The highest primary surplus value was achieved, amounting to about 629 billion Egyptian pounds (3.6% of GDP), an increase of 80% compared to the fiscal year 2023/2024, which recorded a primary surplus of 350 billion pounds. The Finance Minister explained that this outstanding financial performance was achieved despite the budget facing significant external shocks, most notably a sharp 60% decline in Suez Canal revenues compared to the target, causing losses estimated at about 145 billion pounds compared to what was included in the general budget.

The minister also confirmed that this excellent financial performance was accompanied by a significant improvement in all economic indicators and a large increase in private investment, manufacturing activity, and exports. The spokesperson pointed out that the meeting also discussed the main results of the financial performance for the year 2024/2025, which included a remarkable growth in tax revenues, achieving the highest growth rate in recent years at 35%, thanks to the implementation of a package of tax facilities, expansion of the tax base, and building a state of trust, certainty, and facilitation with the business community.