11/6/2025–|Last update: 13:54 (Mecca time)
The Official Gazette reported Egypt Yesterday, Tuesday that the state has allocated a plot of land owned by it in a province Red Sea Its area exceeds 174 km (174 million square meters) for the benefit of the Ministry of Finance for use in reducing public debt and issuing sovereign instruments.
According to the Egyptian Middle East News Agency, the decision of the Egyptian President Abdel Fattah El -Sisi carried No. 303 of 2025 and stipulated the allocation of a plot of land exceeding 174 million square meters of state -owned spaces, a special ownership of the Red Sea Governorate for the Ministry of Finance.
The presidential decision was published in the Official Gazette, in its No. 23 (A), issued on June 4, 2025.
Reuters says that the decision did not address how the land will be used, but Egypt – which faces a suffocating economic crisis – signed a agreement last year with the UAE to develop a plot of land on the coast. Mediterranean Sea In a project of $ 35 billion.
Egypt has since been seeking to attract similar investments to overcome the economic crisis.
Reuters quoted sources in investment banks as saying that Egypt is holding talks with Saudi Arabia And diameter And Kuwait is trying to attract major investments.
Egyptian Finance Minister Ahmed Kajuk told Reuters in April that Egypt was planning to issue billion dollars in 2025.
The sovereign instruments are a governmental papers of equal value, and it can be released for a specific period of no more than 30 years, and represents common shares in the rights to benefit the assets according to what is determined by the issuance bulletin.
The expected budget deficit for the fiscal year 2025-2026 is about 1.5 trillion pounds (30 billion dollars), not including debt installments that exceed this number.
The debt service bill increased to more than 70% of the budget revenues or about 47.4% of total spending, according to the Ministry of Finance data.
The public debt in Egypt is expected to reach 16.4 trillion pounds (332 billion dollars), although the new budget aims to reduce the debt to 82.9% in relation to the local product.