Egypt is keen on enhancing the engagement of local and foreign private-sector companies in supporting the national development plans, according to Egyptian Minister of Finance, Mohamed Maait.
During his meeting with the UK Ambassador to Cairo, Gareth Bayley, Maait noted that the government is implementing several procedures to support the private sector, including providing energy subsidies to productive projects and disbursing overdue export subsidies, according to a statement on Thursday.
On a side note, the minister said that the country’s government debt to gross domestic product (GDP) ratio is expected to decline from the next fiscal year as it reached 91% in fiscal year (FY) 2020/2021, lower than those registered in many European countries.
The country also aims to extend the average maturity of public debt to 3.8 years in FY21/22 and five years over the coming years, compared to 3.4 years in June 2021.
