RIYADH: Egypt posted a record primary surplus of 629 billion Egyptian pounds ($13 billion) in fiscal year 2024–2025, despite a 60 percent drop in Suez Canal revenues, the presidency said in a statement.

During a meeting with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk, President Abdel Fattah El-Sisi was briefed on the country’s preliminary fiscal performance, which showed a surplus equated to 3.6 percent of gross domestic product.

The result represents an 80 percent increase compared to the 350 billion pounds achieved during the 2023-2024 fiscal year.

The finance minister said the strong performance was delivered despite significant external shocks, most notably the sharp decline in Suez Canal revenues, which cost the budget an estimated 145 billion pounds compared with initial projections.

He added that the results coincided with improvements across all major economic indicators, particularly in private investment, industrial activity, and exports.

Presidency spokesperson Mohamed El-Shennawy said tax revenues also saw a significant increase, rising by 35.3 percent year-on-year to 2.204 trillion pounds.

This marks the highest tax revenue growth in recent years and reflects a broader expansion of Egypt’s tax base.

The finance minister said overall revenues grew by 29 percent, while primary expenditures rose by 16.3 percent.

The minister attributed the performance to a comprehensive tax reform agenda, which includes voluntary taxpayer registration, amicable dispute resolution, and the application of digital tools, including the creation of a dedicated e-commerce unit and the implementation of a tax risk management system.

Between February and August, Egypt received 401,929 requests to resolve longstanding tax disputes, along with more than 650,000 voluntarily submitted new or revised tax filings, generating 77.9 billion pounds in revenue.

Moreover, 104,129 small businesses with annual revenues below 20 million pounds applied for tax benefits under Law No. 6 of 2025.

Kouchouk highlighted the government’s social spending commitments. Over 80,000 critical medical cases were treated at state expense, and 2.3 billion pounds were allocated to cover health insurance for vulnerable citizens in various provinces.

In education, 160,000 teachers were hired for the 2024-2025 academic year to address staffing shortages, at a cost of 4 billion pounds.

A further 6.25 billion pounds was set aside for school meal programs to ensure students receive balanced nutrition and combat malnutrition.

El-Sisi stressed the importance of maintaining strict fiscal discipline to support economic recovery and development, and called for stronger public-private partnerships to achieve sustained growth and financial stability.

He also directed the continuation of efforts to generate primary surpluses and to increase allocations for the “Takaful and Karama” cash transfer welfare programs, as well as for the health and education sectors, as part of broader efforts to alleviate burdens on citizens and promote social justice.

JEDDAH: Saudi football club Al-Hilal has been ranked the Middle East’s strongest brand, as the Kingdom’s “big four” teams gain international recognition on the back of high-profile signings, according to Brand Finance. 

The Riyadh-based club earned a Brand Strength Index score of 80.8 out of 100 and an “AAA-” rating, topping regional peers. Al-Ittihad scored 76.8, Al-Nassr 75.6, and Al-Ahli 72.7, the London-based consultancy said in its annual rankings. 

Domestically, all 10 Saudi clubs studied outperformed their international ratings, with Al-Hilal achieving a home BSI of 92.1 compared with 57.9 abroad. Al-Nassr has been the standout internationally with a score of 69.5, helped by the global profile of Cristiano Ronaldo. 

Saudi Arabia has stepped up its football push with major overseas signings, record investment in the Saudi Pro League, and ambitions tied to its Vision 2030 diversification plan. The Kingdom is also preparing to host the 2034 FIFA World Cup, underscoring its bid to become a global hub for the sport. 

Andrew Campbell, managing director Middle East, Brand Finance, said: “The Middle East’s bold investment in football is beginning to yield tangible results on the global stage. Led by the Saudi Pro League, the region is rapidly expanding its commercial and sponsorship footprint while accelerating moves toward club privatization.”  

He added: “High-profile international signings continue to elevate global perceptions — not just of the league, but of the Gulf region as a rising force in world football. As the market matures, strategic investment and commercial discipline will be key drivers of sustained growth, with top club brands expected to strengthen in parallel.” 

UAE’s Al-Ain led its domestic peers with a score of 69.9, ahead of Al-Wasl at 61.7 and Shabab Al-Ahli at 60.9. 

Globally, Real Madrid and Barcelona retained their positions as the most valuable and strongest football club brands, with values of $2.1 billion and $1.9 billion, respectively. Both clubs secured “AAA+” strength ratings. 

The London-based firm pointed out that the Premier League is the world’s most valuable sports league in terms of brand value, with its top ten brands' values totaling $9.1 billion – more than 37 percent of the total value of the world’s top 50 most valuable clubs. 

The report noted that the Premier League’s uniqueness lies in how brand value is distributed across multiple clubs. Six teams — Manchester City and Liverpool at $1.6 billion each, Manchester United at $1.4 billion, Arsenal at $1.3 billion, Chelsea at $1.1 billion, and Tottenham Hotspur at $890 million — each hold substantial brand value.

“The combined value of the world’s top 50 football club brands has climbed to $24.5 billion in 2025. However, Brand Finance research reveals a growing imbalance across the game, as outside of the Premier League, brand value is increasingly concentrated among a handful of elite clubs in Europe’s top leagues, said Hugo Hensley, head of sports services, Brand Finance.  

He noted that brand is no longer a byproduct of performance but a defining driver of success. 

“As the sport becomes increasingly competitive both on the pitch and commercially, clubs and leagues must manage their brands strategically to ensure they aren’t edged out of realizing the benefits of a strong and valuable brand,” added Hensley.