![Egypt repays $25bn debt since March: Finance Ministry 1 money](https://amayei.nyc3.digitaloceanspaces.com/2021/06/money.jpg)
The Finance Ministry of Egypt has made significant strides in debt repayment, with $25 billion paid off since March, as reported by the Institute of International Finance (IIF).
The ministry revealed plans to achieve a budgetary primary surplus of 3.5 percent for the fiscal year 2024/2025, the highest target set since the onset of the pandemic in 2020.
Under the IMF loan deal, Egypt aims to further reduce its public debt through fiscal policies that generate larger primary surpluses, as projected by the IIF.
Additionally, Egypt intends to utilize 50 percent of the IPO proceeds from the government’s IPO Program to tackle its high debt level, which stood at 98 percent of GDP in the fiscal year 2022/2023.