مصر.. هل هي بعيدة عن تحقيق مستهدفاتها من الطروحات الحكومية؟
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00:00 The Egyptian government announced at the beginning of this year that it will target
00:06 the government's annual debt reduction and increase in dollar revenue.
00:11 It is expected that many of the resources that will be raised through the dollar revenue
00:17 will be led by projects that will attract foreign tourists, who will lose a large amount
00:23 of dollars, and this was achieved at the beginning of this year.
00:26 But one of these resources will also be through projects related to the transfer of state-owned
00:34 companies to the sector, of course, to public companies and put them in the market.
00:40 It is expected that the projects will cover half of the Egyptian debt, 50% of which will
00:48 be paid to cover these debts.
00:50 So, if we look at what Egypt is achieving from targets, it wants to reduce its debt through
00:57 it.
00:58 Can it be achieved during this year 2024?
01:00 The beginning is to talk about the ultimate target for Egypt, which seeks through these
01:05 proposals at the end of this year to raise 6.5 billion dollars.
01:10 But until the end of June this year, it is expected to raise 2.4 billion dollars, and
01:16 therefore, it may not reach the target if the first half is similar to the second half,
01:22 or the second half will be similar to the first half.
01:25 We can hardly reach these targets, so it will be far from this target that it seeks.
01:31 It is expected that by the end of the financial year 2024-2025, the total will be around 3.6
01:38 billion, and therefore it is still far from its targets that it seeks through it to reach,
01:44 and it will reach almost double what it can achieve and collect.
01:48 The main goal is certainly to raise a dollar amount, but what is the number of companies
01:54 that are intended to be put in the Egyptian market?
01:57 We were talking about this in 2023.
01:59 The proposal was delayed for many reasons related to the inflation in the prices of stocks
02:05 in the market, and therefore, perhaps not giving a real fair value to the companies that
02:10 will enter the markets.
02:11 We are talking about almost 40 companies that are waiting for the markets and are thirsty
02:15 for their entry in order to increase the dollar income, as well as increasing the share of
02:20 the private sector in the economy and raising it to 70%, and 50% of these proposals will
02:25 be directed towards lowering the debt.
02:27 What about the government's Egyptian debt?
02:30 We are talking about a debt that is rising fourfold over the next 10 years.
02:35 The total amount of debt will reach, by the end of this year, around $168 billion,
02:41 which is still far from the amount of financial commitments.
02:44 I will not forget that many of the bonds issued in the past year have also been committed
02:50 to international financial institutions.
02:52 The economic reform program is proceeding well, according to the IMF, but Egypt needs
02:59 to be prepared for commitments.
03:01 It is expected that by the end of June 2024, Egypt will pay off around $46.1 billion, which
03:09 is a very important achievement for us, but this is the size of the debt by the end of
03:14 June, and the target debt ratio is to reach Egypt's 88% in the face of GDP by the end
03:21 of June 2024.
03:23 These levels are almost equal to each other, and they are the level of the dream, because
03:28 the United States reaches more than 100% of the target debt, as does Japan, which is
03:33 a great country.
03:34 Therefore, the achievement of this target is considered one of the magical numbers.
03:38 However, Egypt is waiting to reach it, of course, in an attempt to reduce the debt ratio
03:43 abroad, but we remind you again that the dollar debt has already started to enter
03:48 Egypt, and the dollar revenue has risen somewhat, and the protection from foreign
03:52 criticism in Egypt prevents you from obtaining most of the imported goods that were still
03:59 stored in Egyptian banks.
04:01 This is proof that it was freed after its value was paid off in the US dollar.