Egypt to start medium-term budgetary framework in 2025

This came during a discussion session organized by N Gage Consulting and LYNX Strategic Business Advisors.

"We have implemented 10 structural reforms in fiscal policy, which will enable us to manage risks efficiently and increase the competitiveness of the Egyptian economy," Kouchouk said.

He added that the state has set a binding ceiling on total public investment, which would give more room to the private sector.

The finance minister also noted that the first phase of new tax facilities measures will be fully implemented during the fiscal year 2023/2024.

In this regard, Kouchouk announced the details of the first financial package in October, which includes introducing a simplified and integrated tax system for small- and medium-sized enterprises with yearly revenues of EGP 15 million.

He reiterated that the fiscal policy focuses on boosting economic and social development efforts to reduce the burden on citizens and businesses.

He added that it also focuses on creating an investment incentive fiscal policy and management based on a real partnership with financiers and supporting the economy with more influential policies in production and export activities.

"Achieving financial stability is essential for the growth of the private sector in economic activity," said Yasser Sobhi, vice minister of finance.

Kouchouk announced in September that the ministry's top priority is rebuilding trust between tax authorities and the private sector.