He added that the debt of budgetary entities has already been reduced by around 10% of GDP over the past two years, despite the average debt level among emerging economies rising by 7% during the same period.
Minister of Finance, Ahmed Kouchouk, stated that the government is committed to allocating a substantial portion of the exceptional revenues generated from recent investment deals directly towards reducing public debt.
He added that the debt of budgetary entities has already been reduced by around 10% of GDP over the past two years, despite the average debt level among emerging economies rising by 7% during the same period.
Kouchouk highlighted that the North Coast has become an attractive destination for tourism, real estate, and service-based investments, generating sustainable economic returns for Egypt.
He noted that the Ras El Hekma and Alam El Rum projects in particular reflect Egypt’s growing competitiveness and improved investment climate.
He further explained that the Egyptian-Qatari project represents a model for long-term investment partnerships that deliver mutual benefit for both the state and investors.
The project will generate a direct cash return of $3.5 billion to be paid before the end of December, in addition to an in-kind share valued at $1.8 billion, and 15% of net profits for the New Urban Communities Authority.
Initial estimates place Qatar’s total investment in the project at approximately $29.7 billion, significantly bolstering inflows of foreign direct investment.
Kouchouk emphasized that Egypt is paving the way for broader regional and Arab economic partnerships by attracting large-scale, development-focused investments that yield strong and sustainable returns.
He noted that regional and international investors are increasingly recognizing the diverse and promising opportunities available in the Egyptian economy.
He concluded by stressing that the private sector has shown strong confidence in Egypt’s economic potential and investment environment, which has enabled the conclusion of major investment deals.
