Egypt’s cabinet approves $91 billion budget for 2025-2026

Egypt's cabinet has approved a draft budget of 4.6 trillion Egyptian pounds ($91 billion) for the 2025/26 financial year starting in July, the government announced. Under an IMF programme, the budget projects an 18% increase in expenditures and a 19% rise in revenue, reaching 3.1 trillion pounds. The anticipated deficit stands at about 1.5 trillion pounds ($30 billion). The budget addresses high inflation, which slowed to 12.8% annually in February from 38% in September 2023, following financial reforms linked to a $8 billion IMF deal signed in March 2024.