Allocating Red Sea Lands to Reduce Egypt's Public Debt
The Egyptian government has allocated approximately 27,000 feddans in the Red Sea governorate to the Ministry of Finance to lower public debt and issue sovereign sukuk.
Egyptian authorities announced a new economic measure involving the allocation of vast land areas in the Red Sea governorate to the Ministry of Finance.
The allocated area amounts to roughly twenty-seven thousand feddans, as part of serious efforts to alleviate public debt burdens.
This strategy relies on utilizing these lands to support the issuance of sovereign sukuk and reduce outstanding financial obligations.
Official data indicates a gradual decline in the external debt of budget entities over past periods.
Current economic policies aim to continue lowering the ratio of public debt relative to the country's gross domestic product.