Making the best use of Brazilian experience in developing tax system and expanding financial inclusion

Minister of Finance, Ahmed Kouchouk, affirmed his keenness to enhance economic and investment bilateral cooperation with Brazil and with "BRICS" countries in productive ecofriendly projects as well as to facilitate trade.

 

In a meeting with Fernando Haddad, Brazilian Minister of Finance, on the sidelines of BRICS meetings in Brazil, Kouchouk stated that we look forward to making the best use of Brazilian experience in developing tax system and expanding financial inclusion. He also highlighted the importance of strengthening cooperation between BRICS countries and Africa with respect to providing finance for development, climate, as well as the exchange of debts and food security.

 

Kouchouk added that we look forward to seeing BRICS as a pioneering platform for the Global South to reach a more balanced and diversified international system, asserting the importance of providing flexible financial mechanisms to achieve the development goals of emerging economies.

 

Kouchouk clarified that we wish that the new development bank can play a vital role in Africa through its regional partnership with Egypt, asserting the importance of expanding infrastructure and green projects and deepening partnership with private sector, as well as providing soft finance with local currency and maximizing the role of new development bank.

 

Kouchouk pointed out that cost-effective finance can be utilized to attract more private investments in productive and development sectors.

 

Kouchouk affirmed that the policies of financial discipline, economic and structural reforms caused the Egyptian economy to be more resilient in face of challenges. He clarified that Egypt is working on creating a promising investment climate that focuses on building confidence and partnership with business community to enhance the competitiveness of Egyptian economy.