• We are on the right track… Our financial and economic performance is improving, and we are committed to maintaining this course.

• Together, we reflect on what we announced a year ago, and what we have achieved within clear priorities and targets that further support the competitiveness of the economy.

• The tax landscape is improving for the better… a true model of strong partnership with the business community.

• We are very proud of the confidence our business partners and investors have in our steps, and of their strong response to tax facilities.

• Balanced fiscal and economic policies are reflected in the strong performance of the private sector across all production and service fields.

• We achieved strong growth in tax revenues without imposing any new burdens, while spending more on health, education, and social protection.

• Last year’s indicators are encouraging… We are working on a comprehensive and integrated strategy to reduce the debt-to-GDP ratio and improve all related indicators.

• Reducing government debt and improving its indicators has become one of the most important goals of the Egyptian state and government.

• We are committed to the optimal use of financing resources, allocating sufficient funds for human development and social protection.

• We aim to direct any exceptional revenues towards reducing the debt-to-GDP ratio.

• A new, more flexible and incentivizing program for exports will be more responsive to exporters’ needs.

• In the coming period, we will exert greater effort to create an investment-friendly business environment and to consolidate a trusted partnership with the business community.

• We will work diligently to enhance investors’ ability to predict more stable and transparent economic and fiscal policies.

• We aim to launch the second package of tax facilitation measures for public consultation soon, to ease procedures for all registered taxpayers.

• We will spare no effort or enthusiasm in working towards seeing the Egyptian economy more competitive and export-driven.

• We aspire to see Egypt among the world’s leading economies within the next ten years.

 

 

Finance Minister Ahmed Kouchouk stressed that the private sector has proven its ability to grow, compete, and respond rapidly to Egypt’s economic and financial reforms, explaining that “we are on the right path, our financial and economic performance is improving, and we remain committed to sustaining this course.”

Speaking during an open and extended dialogue with members of the American Chamber of Commerce in Cairo, the Minister said: “Together, we reflect on what we announced a year ago, and on what we have achieved within clear priorities and targets that are more supportive of economic competitiveness.” He pointed out that the tax system is changing for the better, presenting a true model of strong partnership with the business community, adding: “We are very proud of the confidence shown by our business partners and investors in our steps, and of their strong response to the tax facilities.”

He further emphasized that balanced fiscal and economic policies have been reflected in the robust performance of the private sector across all production and service sectors. He noted that tax revenues recorded strong growth without imposing any new burdens, which enabled greater spending on health, education, and social protection.

The Minister explained that last year’s indicators were encouraging, and that the government is working on a comprehensive and integrated strategy to reduce the debt-to-GDP ratio and improve all its related indicators. He stressed that reducing government debt and enhancing its indicators has become one of the state’s top priorities, highlighting Egypt’s commitment to the optimal use of financing resources, with adequate allocations directed towards human development and social protection, while channeling any exceptional revenues to reducing the debt-to-GDP ratio.

Kouchouk announced a new program that will be more flexible and incentivizing for exports, and more responsive to exporters. He affirmed that the government will exert greater efforts in the coming period to create a more investment-friendly business environment, and to build a partnership of trust with the business community. He also underlined the commitment to strengthen investors’ ability to anticipate more stable and transparent economic and fiscal policies.

He further stated that the government is preparing to launch the second package of tax facilitation measures for public consultation soon, aiming to ease procedures for all registered taxpayers.

The Minister concluded: “We will continue to work with all our energy and passion to see the Egyptian economy become more competitive and export-driven, and we aspire to see Egypt among the world’s leading economies within the next decade.”