Egypt Targets Record 5% Primary Surplus as PM Madbouly Addresses Rising Energy Import Costs
Prime Minister Mostafa Madbouly announced that Egypt’s monthly bill for petroleum products and crude oil imports surged to $2.5 billion in March, more than doubling from $1.2 billion in January. Speaking at a press conference, the Prime Minister revealed that the government is developing contingency scenarios to shield the economy should regional conflicts persist for several more months.
Despite these global pressures, Egypt’s upcoming budget aims for a historic 5% primary surplus—the highest in the country’s history. Total state revenues are projected to grow by 27.5%, with revenues expected to exceed expenditures by approximately EGP 1.2 trillion. Madbouly emphasized that the fiscal strategy remains committed to supporting the private sector and maintaining economic stability amid unprecedented external shocks.