Kouchouk: We Are Growing State Revenues Through Facilitation Without New Burdens to Better Serve Citizens and Meet Their Basic Needs

Finance Minister Ahmed Kouchouk affirmed that the government is working to grow state revenues through facilitation and without imposing new burdens, to enhance its ability to serve citizens and meet their basic needs, noting that priority is being given to increasing spending on health and education and expanding well-targeted social protection programs.

 

Speaking during an open dialogue in Matrouh with Ahmed El-Wakil, Chairman of the Federation of Egyptian Chambers of Commerce, MPs, mayors and tribal leaders, in the presence of Matrouh Governor Maj. Gen. Dr. Mohamed El-Zamlout, Kouchouk said the primary objective is to support all state entities so they can effectively perform their role in improving services provided to citizens.

 

He added that the Finance Ministry's partnership extends to the business community and “everyone in Egypt,” with the aim of increasing investment and employment and enhancing the competitiveness of the Egyptian economy.

 

Kouchouk stressed that the government is counting on the private sector to generate strong and rapid investment returns through facilitation and incentives.

 

He noted that the tax and customs reform path aims to improve conditions for the state's partners in the business community, change realities for the better and make a positive difference for them, adding that the business community has responded positively to the facilitations being introduced.

 

The minister said more than 200,000 applications had been received to join the simplified tax system, while taxpayers had submitted more than 750,000 new and amended tax returns, voluntarily disclosing an additional EGP 97 billion in taxes.

 

Kouchouk said the ministry is working toward an integrated electronic system to improve all services provided to citizens and taxpayers.

 

He affirmed that economic activity is improving, with the private sector accounting for 60% of investments, while the industrial, tourism and information technology sectors are recording solid growth rates.

 

The minister said the development of the customs system aims to reduce the time and costs associated with investment and logistics services, thereby strengthening the competitiveness of the Egyptian economy.

 

Kouchouk stressed that tax facilitations have become a new reality, noting that the second package includes further incentives and facilitations.

 

“We will exert every effort to ensure the effective implementation of the second package of tax and customs facilitations,” he said.

 

Kouchouk also affirmed that the Finance Ministry would provide all possible support to Matrouh Governorate to advance the health and education sectors.

 

The minister's visit to Matrouh included a series of expanded meetings with the business community, governorate officials and chambers of commerce to discuss ways to develop the governorate and attract more investment and visitors, capitalizing on Matrouh's diverse resources and economic potential.

 

For his part, Ahmed El-Wakil, Chairman of the Federation of Egyptian Chambers of Commerce, said the Egyptian economy had achieved tangible results as a result of the genuine partnership between the government and the private sector.

 

He noted that tax and customs facilitations are helping rebuild trust between the government and the business community, adding that the results of the “first package” reflected the strong response and confidence of the tax community.

 

Matrouh Governor Maj. Gen. Dr. Mohamed El-Zamlout said infrastructure development had positively contributed to economic growth in the governorate, noting that Matrouh has diverse resources and potential across various economic sectors.

 

El-Zamlout said the Finance Ministry had allocated around EGP 40 billion to develop the governorate's road network, reflecting the scale of state investment in border areas and its commitment to their residents.

 

The governor also called for greater attention and support for workers in Matrouh's health and education sectors.