Mustafa Madbouly: Unemployment in Egypt Drops to Historic Low, Debt on Downward Trajectory
- Cooperation agreement signed between the stock exchanges of the UAE, Egypt, and Syria
- Chemical and fertilizer exports rise by 2 percent over eight months
Egyptian Prime Minister Dr. Mostafa Madbouli stated that foreign currency reserves are increasing, noting that the Central Bank of Egypt announced they have reached $57.2 billion.
Madbouli, speaking in the presence of President Abdel Fattah El-Sisi and state leaders at the Strategic Command Center on Tuesday, said that last month’s unemployment rate recorded the lowest level in Egypt’s history. He added that Egypt’s debt trajectory is on a downward path, with the debt-to-GDP ratio falling from 96 percent two years ago to 81.8 percent currently. The government aims to reduce the debt-to-GDP ratio to 75 percent as part of its efforts to improve financial indicators and enhance fiscal sustainability.
Meanwhile, at the annual conference of the Arab Capital Markets Association in Abu Dhabi, two strategic memoranda of understanding were signed between the Abu Dhabi Securities Exchange (ADX) and the Egyptian Exchange, as well as between ADX and the Damascus Securities Exchange.
The head of the Egyptian Exchange stated, “Building effective and complementary partnerships among all parties and institutions is no longer merely an option, but a fundamental pillar to support the resilience of our financial markets and their ability to attract global capital and direct investments.”
ADX noted that the two memoranda will establish a clear and organized framework, enabling the Abu Dhabi Securities Exchange to explore cooperation avenues with the Egyptian Exchange and the Damascus Securities Exchange. This will involve working together on initiatives that support market development, expand cross-border trading opportunities, enhance investor access, and explore possibilities for joining the “Tadawul Platform.”
Sources close to the matter reported that the nominal value of the agreement amounts to 5 billion dirhams (approximately 69 billion Egyptian pounds), spanning five years, and aims to strengthen economic cooperation between the two countries.
In a separate development, according to a statement from the Council of Chemical and Fertilizer Industries Exporters issued yesterday, Egyptian chemical and fertilizer exports continued their growth during the period from January to August 2026, reaching approximately $8.25 billion, compared to $6.34 billion during the same period in 2025—an increase of $1.92 billion, representing a growth rate of 30.2 percent.
The statement clarified that the chemical and fertilizer industry sector accounted for approximately 24 percent of Egypt’s total non-petroleum exports during the first eight months of the current year, ranking first among export sectors in terms of value.
