Egypt Intends to Launch Digital Pound by 2030

A government report revealed that Egypt aims to launch a digital currency issued by the Central Bank, represented in the launch of the digital pound by 2030.

According to the document issued by the Cabinet entitled (Features of the Egyptian economy during the period (2024/30), the launch of the digital currency comes to support the competitiveness of the national currency and increase the efficiency of monetary policy.

The document added that Egypt aims to continue developing the financial sector and make the best benefit of the opportunities offered by digital transformation to raise the rate of financial inclusion to 100% by 2030, represented by financial services and digital payment systems. This will help the country raise the number of digital financial wallets to about 80 million wallets by 2030.

Egypt aims to implement the principle of budget unity, comprehensiveness, and balance digital transformation towards adopting program and performance budgeting to increase the levels of effectiveness of government spending, and to reform economic bodies to ensure governance.