Egypt’s President Abdel Fattah Al-Sisi has prioritised tackling inflation and improving the country’s financial performance during a meeting with top government officials on Tuesday.
The meeting with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk focused on reviewing the general budget and the government’s efforts to achieve its targets, according to a statement released by the Egyptian Presidency Spokesperson.
President Al-Sisi stressed the need for continued and intensified efforts to combat inflation through comprehensive policies and programs, ensuring the availability of essential goods and services for citizens. He also directed an increase in spending on healthcare, education, and social protection sectors, aiming to enhance the quality of services provided to citizens.
The meeting also addressed mechanisms to achieve tax stability and encourage investment flows, ultimately boosting economic growth.
President Al-Sisi emphasised the importance of a comprehensive package of tax incentives designed to improve governance, enhance services, and strengthen relationships between investors and the tax authority. This would involve leveraging advanced technological infrastructure to modernise the tax system and foster trust among the business community.
The Egyptian President highlighted the need to maintain a balanced budget, increase state revenue, and invest it strategically. He also emphasised prioritising spending on human development sectors, which he said will ultimately contribute to a stronger economy, a more competitive business environment, and an improved standard of living for citizens.
The government’s efforts to achieve budget targets while simultaneously completing development programs will be key to enhancing the competitiveness of the national economy, improving productivity, and reducing government debt.
