Egypt allocates 26,700 feddans in Red Sea to cut debt, back sovereign bonds

President El-Sisi transferred ~26,700 feddans of state land in the Red Sea Governorate to the Finance Ministry for debt reduction and sovereign bond issuance. This is a novel asset-backed fiscal move amid Egypt's ongoing debt pressures, though valuation and execution details remain unclear. It signals continued reliance on state asset sales to manage external financing gaps.

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