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Finance Minister Highlights EU’s Role as Key Economic Partner Amid Global Uncertainty

Cairo: Finance Minister Ahmed Kouchouk emphasized the significance of the European Union as a key partner, stressing that dialogue with the EU is both fruitful and extremely important, especially amid the current international "uncertainty". He expressed optimism about the growth of the economic partnership, highlighting the potential for European firms' expansion and the strengthening of trade relations.According to State Information Service Egypt, Kouchouk made these remarks during a new round of the Egyptian-European economic dialogue held in Cairo. He stated that Egypt's economic path is "reassuring" and is marked by a careful balance between boosting production and exports while maintaining fiscal discipline. Kouchouk also noted Egypt's proactive stance in addressing current and potential challenges and risks flexibly and positively.Furthermore, Kouchouk mentioned ongoing efforts to enhance the tax system to promote voluntary compliance and attract new financiers. Yasser Sobhi, Deputy Minister for Fi scal Policy, supported these views, stating that Egypt is experiencing global economic shocks from a position of fiscal and economic strength due to recent reforms. He highlighted that the fiscal and economic performance during the first nine months aligns with the targets set for the current fiscal year.Sobhi emphasized that maintaining financial stability is crucial for expanding economic activity and achieving sustainable growth. He pointed out that increasing exports is a priority, and that market openness benefits the private sector in both Egypt and the EU. He reiterated that the EU remains a key partner, and its development enhances growth opportunities within the Egyptian economy.Anicka Eriksgaard, Deputy Chief Financial and Economic Officer at the European Commission, echoed these sentiments, stating that the European Union aims to boost its economy's competitiveness by fostering innovation, increasing productivity, and addressing energy challenges. She acknowledged Egypt as a key partner and pra ised the improvements in its performance and policy, affirming continued EU support.Eriksgaard appreciated the implemented reforms, the notable improvement in fiscal and economic performance, and the measures taken to address the external crisis, underscoring the EU's commitment to supporting Egypt's economic journey.