Our financial policies translate the presidential priorities and the government’s work program in the next phase.

We will do our best to reduce the burden of living in the new budget in implementation of presidential mandates.

Expansion of social protection with more targeted programs for those eligible for support.

In the face of inflation, continuing the path of structural reform of the economy to stimulate the growth of the private sector, the engine of comprehensive and sustainable development.

Promoting initiatives to encourage production and export, maximizing the local component in the industry, and enhancing the competitiveness of Egyptian products.

Building the Egyptian citizen tops the priorities of public spending, especially in the areas of health and education.

We are committed to flexible management of economic risks in real time to contain external and internal shocks.

We are committed to financial discipline, maintaining the primary surplus, and putting the debt and deficit on a sustainable downward path.

 

In his first statements after being sworn the constitutional oath, Ahmed Kouchouk, the new Minister of Finance, expressed his deep appreciation for the confidence of the political leadership, which prompts us all to redouble our efforts with the work team at the Ministry of Finance, in order to lay the foundations for economic stability and build a more flexible and sustainable economic future that is also more capable of achieving economic and development goals, improving the standard of living of citizens and improving the services provided thereto, pointing out that financial policies translate the presidential priorities and the government’s work program during the next phase.

 

The new Minister of Finance stated: “In implementation of presidential mandates, we will exert every effort to ease the living burdens on citizens during the actual implementation of the state’s general budget in the new fiscal year, as we work to expand social protection with more targeted programs for those eligible for support in the face of inflation”.

 

Kouchouk added “the path of structural reform of the Egyptian economy will be continued to stimulate the growth of the private sector and increase its contribution and role in economic activity, as the engine of comprehensive and sustainable development. We are working to advance initiatives to encourage production and export, maximize the local component in the industry, and enhance the competitiveness of Egyptian products”.

 

The new Minister of Finance indicated: “Building the Egyptian citizen is a top priority for public spending, especially in the fields of health and education, which contributes to achieving human development, as it is an essential pillar for progress, development, and the advancement of various other development sectors”.

 

Kouchouk also expressed: “We are committed to flexible management of the economic risks resulting from global and regional crises in real time in order to contain external and internal shocks and limit their effects and repercussions on the Egyptian economy, and citizens as well”.

 

The new Minister of Finance asserted: “We are committed during the current fiscal year to achieving financial discipline by maintaining a large primary surplus of 3.5% of GDP, and putting debt and deficit rates on a sustainable downward path, taking into account setting a debt ceiling that does not exceed 88.2% in the current fiscal year”.