Egypt’s state budget achieved a primary surplus of EGP 170 bln (USD 3.3 bln) from July to November in FY 24/25, marking the largest surplus in five months and nearly three times higher than the previous year. In July-November FY 23/24, the primary surplus was EGP 60.8 bln. The government aims to set a debt ceiling for public sector institutions at EGP 15.1 tln (88% of GDP) in FY 2024/25, reduce the overall fiscal deficit to 7.3% of GDP, and increase the primary surplus to 3.5%.