Cairo, December 20, 2025 – Egypt’s Minister of Finance Ahmed Kouchouk highlighted the vital role of the private sector in driving economic development during the inauguration of the Union of Arab Chambers’ Board in Egypt, saying private investment is taking the lead in economic growth.

 

“We always bet on the success of private investment to spearhead economic development,” Kouchouk said.

 

He congratulated Morocco and Jordan, praising their strong performance over the past period and noting that both countries have been able to achieve sustainability, which he described as a key factor for success.

 

“On behalf of my colleagues in the economic group, I would like to confirm that Egypt and Arab countries have an exceptional opportunity to make a leap in competitiveness and become a hub for manufacturing and exports to Europe, Africa and Asia,” Kouchouk said.

 

He said Egypt is seeking to achieve several key objectives, including restoring confidence between the business community and government revenue authorities through a partnership based on certainty and clarity, adopting a balanced and disciplined fiscal policy to ensure economic stability, reducing debt indicators and achieving tangible improvements in favour of future generations, and providing financing for human development while introducing services that deliver real benefits to Egyptian citizens.

 

He said the government has confidence in the private sector’s ability to help achieve these goals.

 

Kouchouk said that over the past year the Ministry of Finance has taken decisions aimed at delivering tangible improvements for the business community.

 

He said taxpayers were encouraged to close old files, a simplified tax system was launched, and taxpayers’ rights were protected. He added that tax rates are not the core issue, but rather the proper and fair application of the tax system.

 

“In the first package of tax facilitations, we focused on voluntary compliance by taxpayers,” Kouchouk said. He noted that the ministry received 400,000 applications for tax dispute settlements and processed 650,000 new or amended tax returns, representing a total of EGP 80 billion.

 

He added that taxpayers voluntarily disclosed business activities valued at around EGP 1 trillion annually. “This is the result of winning taxpayers’ trust,” he said.

 

Kouchouk said the most significant figure from the last fiscal year was the 73% growth in private investment, despite high interest rates.

 

“Over six years, Egypt received 6,000 applications to join the tax system. However, in the past year alone, the Ministry of Finance received 120,000 applications from the informal sector to join the new simplified tax system,” he said.

 

Kouchouk said the Real Estate Tax Authority will soon operate under a completely new approach, allowing taxpayers to access comprehensive information about their tax obligations and complete their payments directly through their smartphones.

 

On customs, Kouchouk said 30 procedures were prepared in favour of the business community.

 

He added that all tax exemptions previously granted to state-owned entities were cancelled, noting that any government-owned company seeking to generate profits will be treated in the same way as private sector companies.

 

Kouchouk said Egypt’s political leadership has instructed that debt reduction be treated as a top priority. He said revenues from major deals were directed towards improving debt indicators, including proceeds from the Ras El Hekma and Alam Elroum projects.

 

"We reduced debt from 96% of gross domestic product (GDP) in 2024 to 84% in 2025, and we expect a further decline in 2026 in light of the notable improvement in debt indicators,” Kouchouk said.

 

“We are reducing external debt by between USD 1 billion and USD 2 billion annually,” he added.

 

Kouchouk said Egypt is capable of integrating with other countries in a way that allows all sides to add value and learn from one another.

 

He noted that joint investment has increased, while trade still requires further improvement. He said Egypt has a strong opportunity to attract additional foreign investment, citing the Suez Canal Economic Zone, where around 400 regional and international companies are operating.

 

“Trade tools are effective, but they must be continuously upgraded to keep pace with global developments,” Kouchouk said. He added that Egypt’s political leadership believes in the importance of ongoing reforms and in encouraging economic activity.

 

Kouchouk praised the contribution of sister Arab countries that supported Egypt over the past period and helped pave the way for a significant leap, saying that this support “will not be forgotten.”