Kouchouk: We are streamlining and enhancing the quality of services that have the greatest impact on economic activity to ensure Egypt’s competitiveness.

Finance Minister Ahmed Kouchouk affirmed that the Egyptian economy is witnessing a more diversified, inclusive, and targeted improvement, with a strong focus on industrialization and exports. He explained that the Ministry of Finance is working to develop, simplify, and enhance the quality of the most impactful economic services to strengthen Egypt’s overall competitiveness.

 

Speaking at a roundtable organized by the German-Arab Chamber of Industry and Commerce, Kouchouk said that the rapid responsiveness and flexibility of the private sector have “whetted our appetite for further economic, fiscal, and tax reforms.” He added that the business community has responded positively to the reform measures, recording a 73% growth in private investments.

 

Tax Facilitation and Investor Confidence

Kouchouk noted that the strong response to the first package of tax facilitations encourages the government to continue along the path of trust, partnership, and certainty. He explained that the second package of tax facilitations will be more specifically tailored to long-term partners — including taxpayers and investors — and will address practical challenges raised by the business community to further improve the quality of tax services.

 

He revealed that the Ministry is working on a new, more flexible and advanced system for value-added tax (VAT) refunds, designed to make the process faster and easier for businesses.

 

Investment Opportunities and Global Competitiveness

Kouchouk highlighted that Egypt offers numerous competitive opportunities across promising economic sectors of regional and global priority, emphasizing that Egypt has the potential to become a regional and international hub for production and exports. He invited investors to expand their operations in Egypt, citing ongoing reforms that enhance the country’s investment climate.

He added that Egypt’s fiscal policy aims to balance stability and fiscal discipline with strong economic activity, ensuring a sustainable and inclusive growth path.

 

Fiscal Performance and Debt Reduction

The Minister pointed out that Egypt achieved a primary budget surplus of 3.6% of GDP, and that additional revenues were directed toward health, education, and social protection programs. He noted that Egypt succeeded in reducing the debt-to-GDP ratio by around 10 percentage points over the past two years and aims to continue lowering the debt ratio in the coming period.