Arab Finance: The Egyptian government’s foreign financing needs have been estimated at $4 billion until the end of fiscal year (FY) 2023/2024, Minister of Finance Mohamed Maait stated.
Maait pointed out that the country could secure $5 billion in concessional financing annually from multi-lateral development banks.
Egypt has paid off $52 billion in foreign liabilities over the last two years, the minister added, expecting the foreign direct investments (FDIs) to reach $12 billion this fiscal year.
Moreover, he anticipates the Suez Canal revenues to increase in FY 2023/2024 to $12 billion.