15 Hrs
Source:
اقتصاد
Egypt land for debt sukuk
Egyptian President Abdel Fattah el-Sisi allocated 26,690 feddans of state-owned land in the Red Sea Governorate to the Ministry of Finance, to be used to reduce public debt and issue sovereign sukuk. The government aims to lower the debt-to-GDP ratio from 81.8% at the end of fiscal year 2025/2026 to around 78% this year, while the external debt of budget-sector entities has fallen to $76.1 billion. Sukuk provide financing by granting the right to use state assets without transferring ownership, for a period of up to 30 years.
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