Egypt’s Finance Minister calls for fairer global financing at Paris Forum

Finance Minister Ahmed Kojok stressed that emerging markets are seeking a fairer financial environment that stimulates investment and economic growth, urging unified international efforts to build a more supportive global financial structure for developing economies.

Speaking at the Paris Forum, Kojok outlined Egypt’s integrated and balanced strategy to improve all debt indicators of the state budget, reduce financial risks, and sustain debt reduction for future generations. He emphasized that boosting economic activity while maintaining fiscal discipline is key to ensuring long-term debt sustainability.

The minister highlighted the strong response of the private sector to Egypt’s reforms, noting a 73 percent increase in private investment last year, with continued robust growth this year. He added that exceptional revenues are being directed toward reducing debt and improving government debt indicators.

Kojok pointed to the importance of expanding innovative financing tools such as debt-for-investment swaps, debt exchanges, and other creative instruments to create additional fiscal space. This, he said, will be channeled into human development and social protection for citizens.

He noted that Egypt’s budget debt has declined by 13 percent over the past two years, while debt in emerging markets rose by 6 percent during the same period. External debt of the budget fell by about $4 billion in the past two years and by $1.5 billion this year. Egypt aims to reduce the budget debt-to-GDP ratio to 78 percent by June 2027 and to 70 percent in the medium term.