Washington: Minister of Finance Ahmed Kouchouk stated that Egypt looks forward to strengthening the contributions and investments of US companies in the Egyptian economy, amid improving economic indicators. In his remarks at the American Chamber of Commerce on the sidelines of the International Monetary Fund (IMF) and the World Bank (WB) Annual Meetings in Washington, the minister noted that the Egyptian economy is growing at a steady and encouraging pace, with robust and diverse private sector activity taking place in an increasingly competitive business environment.

According to State Information Service Egypt, the minister highlighted the completion of a series of economic and fiscal reforms, along with tax and customs facilitations aimed at attracting more private investments. He emphasized Egypt's continued commitment to building trust and partnership with the business community by adopting practical, flexible, and effective approaches to address tax-related challenges.

He added that preliminary indicators for the first quarter of the current fiscal year show a balanced and stable trajectory in Egypt's financial and economic performance. The country recorded a primary surplus exceeding EGP 170 billion, government debt is on the decline, and tax revenues are witnessing strong growth due to heightened economic activity, an expanded tax base, and improved engagement with financers, he said.

He noted that the International Monetary Fund has been briefed on Egypt's recent economic reforms and the solid outcomes achieved in the last fiscal year.