Cairo: Minister of Finance Ahmed Kouchouk said that the government is open to national political forces, stressing that their proposals will be taken into account in shaping the country's economic trajectory.
According to State Information Service Egypt, the Minister emphasized that there is no single magic decision or measure that can resolve all challenges; instead, a comprehensive and integrated vision of priorities and targets is needed. During an open dialogue with the Coordination Committee of Party's Youth Leaders and Politicians (CPYP), he highlighted the importance of crafting policies that align with national conditions and capabilities while drawing insights from international experiences.
Kouchouk noted that while improving financial indicators is crucial, it should not come at the expense of economic contraction. He reiterated that balanced fiscal policies are essential for stimulating growth and maintaining financial discipline. Efforts are underway to expand the economic, production, and tax base, thereby boosting state revenues, as a strong and competitive economy is vital for growth and development.
The Minister also pointed to ongoing tax, customs, and real estate facilitation measures aimed at bolstering trust with the business community. The government remains committed to supporting citizens and economic activity amid challenges, ensuring fiscal policies bolster investment and exports.
He outlined that the new budget prioritizes human development and improved public services, with specific allocations and programs designed to impact citizens' lives positively. EGP 48 billion has been allocated to support exports, with targeted programs for priority sectors. Kouchouk also highlighted growth opportunities in services, particularly outsourcing and information technology.
Kouchouk mentioned that the privatization program is poised for a positive shift and that Egypt continues to support the transition to solar energy, expecting significant expansion in renewable energy over the next two years. Additionally, plans to establish special tax centers for compliant taxpayers were announced to improve service quality, with a simplified tax system incentivizing startups and small enterprises through low-cost financing for the first 100,000 participants.
The Minister stressed the government's aim to improve public debt indicators significantly, thus creating greater fiscal space to support citizens and investors. Any exceptional revenues will be directed toward reducing debt levels.