Finance Minister unveils initiatives to support industry, clean energy transition, and export growth
Egypt’s Finance Minister, Ahmed Kouchouk, outlined key government initiatives aimed at stimulating the Egyptian economy amid global and regional challenges. In his remarks, Kouchouk highlighted three main priorities: strengthening partnerships with the private sector, supporting the transition to clean energy, and launching an ambitious export activities program. He emphasized, “We, alongside the business community, are partners in enhancing the competitiveness of the Egyptian economy and achieving robust growth.”
Speaking at the Scientific Association for Tax Legislation conference, Kouchouk outlined the first phase of tax relief measures, describing them as a significant step toward fostering trust and partnership with the business community. These initiatives are designed to enhance tax services, improve liquidity for businesses, and encourage investment.
As part of these efforts, Kouchouk detailed the implementation of selective audits for taxpayers across various centers, offices, and tax zones. Additionally, the pilot launch of a centralized settlement system has been introduced to reconcile investors’ government dues with outstanding debts, easing processes and providing much-needed liquidity.
The Finance Minister also announced upcoming packages of tax and customs relief, aimed at benefiting both citizens and investors. He revealed plans for a public dialogue on the proposed Tax Policy Document in the first quarter of the next fiscal year, ensuring inclusivity and transparency in shaping future fiscal policies.
Kouchouk emphasized that fiscal policies will go beyond maintaining financial discipline, focusing on broader economic goals to stimulate activities in productive and export-oriented sectors. He revealed that an ambitious program is being developed to support export activities, targeting national goals while addressing exporters’ needs.
Moreover, the government is exploring initiatives to support the industrial sector and facilitate the transition to clean energy, reaffirming its commitment to sustainability and innovation. Kouchouk also discussed efforts to implement an integrated strategy to improve public debt indicators, creating fiscal space for increased investment in human development, and further supporting long-term economic growth.
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