Madbouly added, during a press conference on Wednesday, that purifying ration cards is necessary so that high-income people do not receive support from the state. He continued: “We seek to ensure that the support reaches those who deserve it and that they benefit from it as much as possible, while avoiding the defects of the current support system.”
He explained that the Egyptian government is anticipating potential risks in the budget for the next fiscal year so that it can deal with them by setting aside large reserves.
Madbouly said: “The government aims to reduce debt to GDP to 78% by June 2027, and as for external debt, we aim to reduce it between 1 and 2 billion dollars, and to reduce the debt service bill to 35% of expenses in the medium term.”
He pointed out that the government is working to restructure low-performing assets with the participation of the private sector to benefit from them in management and not sell them or give them away. He added: “The state did not sell any company completely, but rather offered a percentage of the company or worked to increase its capital.”
Madbouly explained that the government seeks to pass on the least possible amount of burdens to citizens, stressing that the state bears a large portion of the cost of many services, but there is a ceiling on its ability to bear these burdens. He continued: “The real cost of many services provided by the state far exceeds the prices at which they are currently provided to citizens.”
The Prime Minister said that the rates of tourist arrivals to Egypt were affected during the second quarter of this year, indicating that this impact may extend to part of the third quarter.
He added that the first quarter of 2026 witnessed a growth in the number of tourists by 16%, which promised to receive about 21 million tourists during the year, but the outbreak of the Iran war prompted some tourists to refrain from visiting the region, which affected the rates of tourist flows.
