{
  "id": 19979177,
  "title": "Expert explains Finance Ministry allocating state-owned land on the Red Sea to reduce public debt",
  "url": "https://urgent.news/2026/11/14/expert-explains-finance-ministry-allocating-state-owned-land-on-the",
  "topic": "world",
  "section": "World",
  "published": "2026-11-14T12:28:53.000Z",
  "source": {
    "name": "Egypt Independent",
    "slug": "egypt-independent",
    "url": "https://www.egyptindependent.com/expert-explains-finance-ministry-allocating-state-owned-land-on-the-red-sea-to-reduce-public-debt/"
  },
  "original_language": "en",
  "account": "Economist Fakhri al-Fiqi clarified that the recent allocation of 112 million square meters of state-owned Red Sea land to the Finance Ministry for investment purposes does not involve selling the land or changing its ownership. During a phone interview on Friday with the \"Modern MTI\" television channel, Fiqi noted that this decision was made via a presidential decree as part of the state's broader plan to monetize its assets for economic benefit. The decree enables the Finance Ministry to grant usufruct rights to the land or employ it as an in-kind asset for economic development, with the generated income earmarked for tackling public debt and alleviating its strain. Usufruct rights were explained by al-Fiqi, who stressed the importance of distinguishing between granting land under a \"usufruct\" (right-of-use) arrangement and selling land to transfer ownership. Responding to inquiries about the government's intention to sell state-owned land to raise funds for public debt repayment, Fiqi made clear that the announcement pertains to managing and economically utilizing assets through usufruct rights, not relinquishing ownership. President Abdel Fattah al-Sisi had signed a presidential decree allocating more than 112 million square meters of Red Sea Governorate land to the Finance Ministry, which was published in the Egyptian Gazette on Wednesday. The land is intended for reducing public debt and issuing sovereign \"Sukuk\" (Islamic financial certificates) to lower the national debt burden.",
  "summary": "Economist Fakhri al-Fiqi explained that the decision to allocate 112 million square meters of state-owned land in the Red Sea governorate to Finance Ministry for investment purposes does not entail selling the land or transferring its ownership. During a phone interview with the “Modern MTI” television channel on Friday, Fiqi noted that this allocation is … The post Expert explains Finance…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}