Egypt Aims for Record Debt Reduction, Says PM Madbouly

Egyptian Prime Minister Mostafa Madbouly announced that the government is targeting a historic reduction in public debt, aiming to bring it down to the lowest level in the country's modern history, as part of a broader national economic strategy unveiled this week.

Speaking at the launch of Egypt’s new “National Economic Narrative”, Madbouly addressed public concerns raised in recent months about the government’s long-term economic vision, especially post-IMF program planning and the coordination of national efforts across institutions.

“This economic narrative is a direct response to the questions many Egyptians have been asking,” Madbouly said. “Do we have a vision beyond the IMF program? How do we ensure that all state institutions are working in harmony, not in silos?”

Madbouly emphasized that the national strategy was the product of cumulative work during an exceptional period marked by global turbulence and uncertainty. He reflected on his recent participation—on behalf of President Abdel Fattah El-Sisi, in two major international summits, where global leaders acknowledged that the world is entering an unprecedented phase of economic instability, particularly for emerging economies.

“Even international institutions are struggling to keep up with the scale of global challenges,” he noted.

At the heart of the new economic narrative is a commitment to sustainability and inclusive growth. The strategy aims to achieve GDP growth rates of 5% to 7% over the coming years, reduce Egypt’s public debt to its lowest historical levels, and ensure economic stability that translates into tangible improvements in living standards for Egyptian citizens

Madbouly highlighted the importance of breaking institutional silos, ensuring that all sectors and ministries align under a cohesive national vision. The narrative, he explained, is not just a policy document but a living framework meant to guide Egypt’s path forward, particularly in the face of continued external pressures.

“Our ultimate goal is for this plan to reflect directly in better quality of life for every Egyptian,” the Prime Minister said.