• Naguib Sawiris suggests selling North Coast and Red Sea land in dollars to ease Egypt’s foreign debt burden.
• He expects 4% economic growth in H2 2025, with inflation down and interest rate cuts boosting investment and stability.
• Parliament’s Fakhry El-Fiky predicts dollar decline below EGP 40 as debt falls, credit rating improves, and FX revenues grow.

Sawiris

According to Alarabiya, Egyptian businessman Naguib Sawiris commented that solving Egypt’s foreign debt repayment challenge is simple and lies in offering the remaining land on the North Coast and the Red Sea in USD to Egyptians and foreigners.

He further explains the private sector employs 90% of the workforce,and  owns 89% of factories and farms. He also affirms that it developed the Red Sea, the North Coast, and various new cities. 

He also predicts that Egypt’s economy will improve in the second half of the year, with 4% growth. He notes that inflation has declined. Furthermore, he predicts that the Central Bank will cut interest rates by 1 to 4%. Thus, boosting investment, stabilizing prices along with the exchange rate, and easing dollar pressure. 

Debt

At the end of Q1 2025, Egypt’s external debt’s value is at USD 157 billion.  Fakhry El-Fiky, Head of the Planning and Budget Committee in the Egyptian Parliament, expects the U.S. dollar exchange rate to gradually decline against the Egyptian pound during the current fiscal year, approaching its real value below EGP 40.

In an interview with Alarabiya Business, El-Fiky links the predicted decline of the dollar to anticipated improvements in several economic indicators in Egypt. This includes reduction in foreign debt, an improved credit rating, and growth in foreign currency revenue sources. 

He further points out that Egypt’s foreign debt is expected to decline. This is because the state is pursuing a policy of converting Arab deposits into direct investments, similarly to Ras El Hekma.