We target attracting more investment flows and achieving economic revenues for the state

Minister of Finance, Ahmed Kouchouk affirmed that we seek enhancing the role of private sector in all economic and productive sectors in Egypt, attracting more investments and achieving economic revenues for the state.

 

In a panel discussion themed "Enhancing The Role of Private Sector" at the British Egyptian Business Association in London, Kouchouk stated that we work on an integrated strategy to improve the indices of government debt, and to maintain confidence of investors, pointing out that we are keen on diversifying the sources, tools and markets of finance to meet the needs of budget at the lowest cost.

 

Kouchouk added that we work on extending the terms of maturity and reducing dependency on short term finance instruments, besides expansion in long term finance instruments to alleviate the burden on the budget as well as to enhance financial sustainability.

 

"We adopt a flexible and proactive approach when managing external debt in order to reduce risks, and we target to continue reduction of external debt for budget bodies from EGP 1bn to EGP 2bn per year," said Kouchouk. "We look into getting back to "sukuk" after the success we achieved in the first offering of the Kuwait Finance House," added Kouchouk.

 

Kouchouk affirmed that the general finance of the state is managed in a balanced way to maintain financial stability, support economic activity as well as to increase spending on human development and social protection, pointing out that the financial performance improved notably last year and enhanced the ability of economy to encounter regional and global crises.