We look forward to the approval of the Board of Directors of the Fund for the third review of the Egyptian economic reform program on July 29th.

• We aim to continue the upcoming reviews successfully, and work on the path to obtaining financing from the Resilience and Sustainability Fund.
• We are committed to achieving financial discipline in order to put the path of the budget agencies' debt to the GDP on a downward path.
• We aim to create sufficient financial space that allows for increased spending on education, health and social protection.
• We are working to reduce inflation rates to ensure price stability to improve the living conditions of citizens and support the competitiveness of companies.
• The government's priority during the coming period is to increase the volume of private sector investments and drive productive and export activities.
• Developing the business environment to enhance the competitiveness of the Egyptian economy and attracting foreign direct investment.
• Simplifying the procedures for tax and customs systems to rebuild trust between the business community and the tax administration and improve services for taxpayers.
• Advancing structural reforms and private investments in the fields of renewable energy, technology, water desalination and infrastructure.
• We are working on the consistency of economic policies by setting a ceiling for total public investments, government guarantees and the ratio of general government debt to GDP.

 

 

Minister of Finance, Ahmed Kouchouk, assured that we are dealing in Egypt with a very balanced approach to complex geopolitical repercussions, within the framework of a comprehensive program to improve economic performance, and we look forward to the approval of the Board of Directors of the International Monetary Fund for the third review of the Egyptian economic reform program on July 29. We aim to continue the upcoming reviews successfully, and work on the path to obtain financing from the "Resilience and Sustainability" Fund.

 

In his meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund, on the sidelines of the G20 meetings in Brazil: “we are committed to achieving financial discipline in order to put the path of the budget agencies' debt to GDP on a downward path, and we aim to create sufficient financial space to allow for increased spending on education, health and social protection. We are also working to reduce inflation rates to ensure price stability to improve the living conditions of citizens, and support the competitiveness of companies.” added Kouchouk.

 

The minister pointed out that the government's priority during the coming period is to increase the volume of private sector investments and push productive and export activities, as well as develop the business environment to enhance the competitiveness of the Egyptian economy and attract foreign direct investment, noting that we are working to simplify the procedures related to the tax and customs systems to rebuild trust between the business community and the tax administration and improve services for taxpayers.

 

Kouchouk explained that we are keen to push structural reforms and push private investments forward in the fields of renewable energy, technology, water desalination and infrastructure, noting that we are working on the consistency of economic policies by setting a ceiling for total public investments, government guarantees and the ratio of the general government debt to the GDP.