Egypt is addressing current challenges through a proactive approach and full coordination across all state entities, with priority given to ensuring the availability of goods and services and maintaining the continuity of economic activity, Finance Minister Ahmed Kouchouk said.

Egypt is addressing current challenges through a proactive approach and full coordination across all state entities, with priority given to ensuring the availability of goods and services and maintaining the continuity of economic activity, Finance Minister Ahmed Kouchouk said.

 

Speaking during an open dialogue with international investors organized by RMB Bank on the sidelines of the IMF–World Bank Spring Meetings in Washington, Kouchouk affirmed that Egypt’s economy recorded a growth rate of 5.3% in the first half of the current fiscal year, driven by strong performance in industry, information technology, tourism, and private investment.

 

He added that the strong fiscal performance during the period from July to March reflects improving economic conditions, efforts to expand the tax base, and the success of policies aimed at simplifying procedures and strengthening confidence with the business community. He noted that the primary surplus reached 3.5% of GDP, supported by a 29% increase in tax revenues without imposing new burdens on investors or citizens.

 

Kouchouk said the government is working intensively to invest in upgrading electricity transmission and distribution networks to capitalize on the large-scale renewable energy projects implemented by the private sector.