Finance Minister Ahmed Kouchouk announced that the government plans to significantly expand funding for economic stimulus programmes and initiatives next year, allocating three times the current year’s budget.
“There will be no tax exemptions,” Kouchouk stated, “but we are open to providing direct financial support for priority sectors, ensuring that funds are allocated with clear objectives and within defined timeframes.”
He reaffirmed the government’s commitment to strengthening the role of the private sector as a key driver of comprehensive and sustainable economic development. He emphasized that the economic ministerial group operates in full alignment, working within a unified vision to accelerate growth and foster investment.
Speaking during a joint panel discussion on Sunday with Investment and Foreign Trade Minister Hassan El-Khatib—organized by the Egyptian Private Equity and Venture Capital Association (EPEA) and moderated by EPEA Chairperson Ayman Soliman—Kouchouk underscored the government’s openness to feedback from the business community. He highlighted ongoing efforts to ease burdens on productive and export-oriented industries, ensuring fiscal policies contribute to a competitive and stimulating business environment.
He further noted that the government is actively rebuilding trust with businesses through a series of facilitation measures, aimed at creating a more transparent and efficient tax system. The strong engagement from the private sector in response to the first tax relief package, he said, reflects growing confidence in the government’s approach.
Kouchouk acknowledged that many economic challenges will naturally ease as the government continues expanding the tax base and strengthening partnerships with taxpayers. He revealed that tax revenues increased by 38% in the first half of the current fiscal year, coinciding with the implementation of policies designed to foster collaboration and support for businesses.
Additionally, he emphasized that all stakeholders are working towards optimizing the management of state assets to maximize returns, reinforcing Egypt’s long-term economic growth strategy.
