Egypt to provide EGP 90bn in financing facilities for key sectors at interest rates below 15% this fiscal year
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, together with Minister of Finance Ahmed Kouchouk, announced the continuation of the government’s initiative to support industrial, agricultural, and renewable energy sectors, aimed at encouraging the
Global rating agencies begin upgrading Egypt’s economic outlook: Finance Minister
Egypt’s Minister of Finance, Ahmed Kouchouk, announced that Standard & Poor’s (S&P) has upgraded Egypt’s credit rating from “B–” to “B” for the first time in seven years, maintaining a stable outlook. The move, along with Fitch Ratings’ decision to
9 tax exemptions introduced for businesses with annual revenues under EGP 20m: Finance Minister
Minister of Finance Ahmed Kouchouk announced that nine new tax exemptions will be granted to business activities with annual revenues below EGP 20m, as part of Egypt’s ongoing efforts to support small enterprises and broaden the tax base through trust
Egypt approves record 2025/26 budget with focus on growth, social investment
The Egyptian cabinet, led by Prime Minister Mostafa Madbouly, has approved the draft budget for the 2025/2026 fiscal year and referred it to Parliament for discussion and final approval. The new budget reflects record spending and a continued commitment to
Egypt offers EGP 3bn boost for state-funded medical treatment from March to June 2025
Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar, along with Minister of Finance Ahmed Kouchouk, reviewed the progress of the presidential directive to enhance funding for state-sponsored medical treatment. This initiative, part of
Egypt launches EGP 4bn initiative to support 10 million families on ration cards
Ahmed Kouchouk, Minister of Finance, and Sherif Farouk, Minister of Supply and Internal Trade, have reviewed the progress of implementing the presidential directive designed to provide additional financial support to 10 million vulnerable families registered on ration cards. With a
Egypt achieves EGP 330bn primary surplus in H1 2024/25, reflecting strong financial performance
Egypt has recorded a primary surplus of EGP 330bn for the first half (H1) of the fiscal year 2024/25, marking its highest surplus to date, according to Minister of Finance Ahmed Kouchouk. This achievement reflects strong financial performance, bolstered by
Egypt allocates EGP 1bn to boost local automotive industry: Kouchouk
The Egyptian government has allocated EGP 1bn in its fiscal year (FY) 2024/25 budget to finance a strategy aimed at localising the automotive industry, according to Finance Minister Ahmed Kouchouk. The plan seeks to attract investment partnerships in car manufacturing
Egypt unveils EGP 200bn social safety net ahead of Ramadan
The Egyptian government has launched a social support package valued at EGP 200bn to assist citizens facing rising prices. Prime Minister Mostafa Madbouly announced the measures on Wednesday, stating that the package will be implemented during Ramadan and the upcoming
ETA, Egyptian-Chinese Business Association sign cooperation protocol to boost investment
The Egyptian Tax Authority (ETA) has signed a cooperation protocol with the Egyptian-Chinese Business Association to enhance voluntary tax compliance and foster a stable business environment conducive to economic growth. This initiative aligns with directives from Minister of Finance Ahmed