Egypt’s Finance Minister, Mohamed Maait, outlined a multi-pronged approach to achieve economic stability and sustainable growth. The strategy prioritizes fiscal discipline, targeted social investment, and gender equality. In this regard, the Director-General of Monitoring and Evaluation at Egypt’s Ministry of Finance, Dalia Fouad, announced a critical phase in the country’s development strategy under President Abdel Fattah Al-Sisi.
Fiscal Stability and Inclusive Growth
The strategy focuses on reducing the public debt ratio to 80% by mid-2027; alongside achieving a primary surplus of 3.5% of GDP, and reducing the overall budget deficit to 6% in the medium term. As for the establishment of a debt ceiling, this cap will limit government borrowing across all economic, service, administrative, and local sectors. Exceptions will require approval from the President, the Cabinet, and the House of Representatives.
Recognizing the importance of social welfare, the plan also prioritizes increased spending on healthcare and education by over 30%, along with additional social protection measures.
Program and Performance” Budgeting
Furthermore, the “Program and Performance” budgeting model will incorporate gender-responsive budgeting practices. This approach aims to address existing gender disparities by ensuring equitable allocation of resources in government programs and initiatives.
The Ministry of Finance collaborated with various stakeholders, including the National Council for Women and the UN Entity for Gender Equality and Women’s Empowerment, to develop a Procedural Guide for Gender-Responsive Budgeting. This guide is a regional benchmark for integrating gender equality into public spending.
