Egypt Records Highest-Ever Primary Surplus of EGP 629 Billion in FY2024/25

Egypt has achieved its largest-ever primary budget surplus, recording EGP 629 billion ($13.1 billion) in the fiscal year 2024/25, equivalent to 3.6% of GDP, according to a statement released Saturday by the Egyptian Presidency. 

The figure marks an 80% jump compared to the EGP 350 billion surplus registered in 2023/24.

Finance Minister Ahmed Kouchouk presented the results during a meeting with President Abdel Fattah El-Sisi, attended by Prime Minister Mostafa Madbouly, stressing that the surplus was secured despite significant external shocks.

Among the challenges, the government highlighted a sharp 60% drop in Suez Canal revenues compared to budget forecasts, resulting in a shortfall of around EGP 145 billion. 

Nevertheless, Kouchouk said the strong fiscal outcome was accompanied by robust improvements in Egypt’s broader economic indicators, including a surge in private investment, manufacturing, and export activity.

The statement also revealed that Egypt achieved its highest growth in tax revenues in years, climbing 35% to reach nearly EGP 2.2 trillion in FY2024/25. Officials credited the increase to expanded tax facilities, a broadened tax base, and strengthened trust and cooperation with the business community.

Overall revenues grew 29% year-on-year, while primary expenditures rose 16.3%, underscoring what the government described as a more efficient fiscal management strategy aimed at consolidating the state budget.