Minister Discusses Economic Progress and Future Goals
Egypt’s Finance Minister, Ahmed Kouchouk, emphasized the country’s ongoing efforts to improve its business climate. During a meeting with members of the American Chamber of Commerce in Washington, Kouchouk shared insights into Egypt’s economic growth and the government’s strategy for further progress.
The meeting, held alongside the IMF and World Bank Spring Meetings and the G20 Meetings, focused on Egypt’s fiscal policies and future economic plans. Kouchouk revealed that Egypt’s economic indicators have seen significant improvement, with a clear shift towards creating a business-friendly environment that attracts both local and international investments.
Government Efforts to Stimulate Growth
Kouchouk outlined that the upcoming 2025/2026 fiscal year budget will prioritize key sectors such as production, exports, manufacturing, and tourism. He noted that Egypt is undergoing extensive tax and customs reforms, aiming to build trust and partnerships with the business community. These reforms include efforts to expand the tax base by encouraging voluntary compliance through attractive facilitation packages.
The Finance Minister pointed out that Egypt’s financial performance over the past nine months has been positive, showcasing the country’s vast economic potential. He emphasized that both local and foreign investors can find promising opportunities within Egypt’s economy.
Realigning Economic Priorities
The government is realigning its economic priorities to enhance Egypt’s regional and international competitiveness. Kouchouk stressed the importance of continuous coordination among government members to create a more investor-friendly environment. The country’s structural reforms across various sectors are designed to boost economic activity and increase competitiveness.
Despite the challenges posed by the current economic situation, Kouchouk expressed confidence that Egypt’s flexible approach to easing the burdens on production and exports would lead to positive outcomes. He also highlighted the potential for increased American investments and technology transfers in the near future.
Egypt as a Regional Hub for Production
The Finance Minister reaffirmed Egypt’s commitment to positioning itself as a regional hub for production and exports. He noted that the government is working diligently to reduce debt burdens and improve financial indicators, aiming to diversify the sources of funding over the medium term. This strategy is central to maintaining sustainable economic growth and attracting increased investment.
Kouchouk’s remarks underscore Egypt’s proactive stance in fostering an environment conducive to business growth and ensuring that the country remains competitive on the global stage.
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