Cairo: President Abdel Fattah El-Sisi convened with Prime Minister Dr. Moustafa Madbouly and Minister of Finance Ahmed Kouchouk to deliberate on the fiscal policy priorities for the 2026/2027 budget. The discussions focused on establishing a partnership with the business community to enhance confidence, improve services, and ensure clarity of vision, alongside implementing tax and customs facilitations and expanding the tax base through increased tax compliance.
According to State Information Service Egypt, the meeting reviewed the fiscal policy's priorities, which include fostering growth, enhancing competitiveness, and maintaining fiscal discipline. The policies aim for a 5.4% growth rate, inflationary stability, and allocating EGP 90 billion for economic support programs. The focus is also on sustaining financial support for energy and achieving a primary surplus of EGP 1.2 trillion, with improvements in debt service indicators and a reduction in the debt-to-GDP ratio. Additionally, there are plans to increase budgets for health and education, raise teachers' salaries, and ensure state employees' wages exceed inflation rates.
The meeting also addressed growth targets, primary surplus, expenditures, and revenue streams, alongside efforts to achieve fiscal balance and enhance national economic performance amid regional challenges. Minister Kouchouk emphasized the government's commitment to financial and economic stability, stimulating private sector growth, and sustaining economic activity through balanced fiscal policies. He noted ongoing tax, customs, and real estate facilitations to relieve burdens on citizens and investors.
A presentation during the meeting highlighted proposals for wage increases and policies to reduce budgetary entity debt and the debt service bill. The government aims to support high growth rates, private sector growth, and export reliance, while increasing productivity and private investment in research and development.
President El-Sisi stressed the importance of comprehensive institutional reform for fiscal discipline and economic resilience. He highlighted the need to attract domestic and foreign investment and engage positively with global investment circles to better communicate Egypt's economic measures targeting regional challenges.