UK to increase its projects in production sectors, human development in Egypt

Kouchouk announced that during his meeting with the British ambassador to Egypt Gareth Bayley at the Ministry of Finance in the New Administrative Capital (NAC).

The minister added that the UK is one of the largest investing countries in Egypt, with investments scoring $21 billion in 2023.

Moreover, the UK's foreign direct investment (FDI) inflows into Egypt increased from $1.9 billion in 2021/2022 to $2 billion in 2022/2023, according to the Central Bank of Egypt (CBE).

Total exports from Egypt to the UK recorded $154 million, while imports from the UK to Egypt recorded $156 million in May 2024, according to Data from the Central Agency for Public Mobilization and Statistics (CAPMAS).

The ministry framework
 

The minister stated that the budget achieved a primary surplus of 6.1 percent, including the return of Ras El-Hekma which reduced the budget deficit to 3.6 percent.

This improvement enhances the ministry's ability to complete the path of economic reform amid global and regional challenges.

He declared that the ministry is improving the efficiency of managing financial risks to limit the negative repercussions on various economic sectors and citizens.

According to the minister, the Egyptian government is working hard in light of an integrated and coherent vision to promote the competitiveness of the Egyptian economy and boost exports and investment.

He also said that the ministry is making its financial policies more stimulating to increase the private sector’s contribution in a way that promotes local production and manufacturing.