Egypt’s tax revenues surge by 39% in H1 of FY2024/2025
Egypt’s tax revenues grew by 38 percent in the first half of the 2024/2025 fiscal year, according to Minister of Finance Ahmed Kouchouk. Speaking at a panel discussion organized by the Egyptian Association for Direct Investment and Venture Capital, Kouchouk highlighted the government’s ongoing efforts to expand the tax base and strengthen partnerships with taxpayers. He noted that many economic challenges will be naturally resolved as these initiatives progress, reinforcing stability and encouraging business growth.
Looking ahead to the next fiscal year, Kouchouk revealed that Egypt plans to triple allocations for economic stimulus programs and initiatives compared to the current year. This move reflects the government’s commitment to fostering economic expansion, supporting key industries, and enhancing the country’s overall business climate. He also reaffirmed Egypt’s dedication to increasing private sector participation as a driving force for comprehensive and sustainable development.
Kouchouk emphasized that the economic ministerial group operates in a cohesive and strategic manner, aligning priorities and objectives under a clear vision to stimulate economic growth. He stressed that the government remains highly receptive to feedback and ideas from the business community, ensuring that policies are shaped by real-world market needs.
To further support businesses, the government is adopting a flexible approach to reduce burdens on productive and export-oriented sectors. Kouchouk stated that fiscal policies will play a key role in enhancing Egypt’s competitiveness, creating a business-friendly environment that attracts investment and promotes long-term growth.
As part of its strategy to strengthen trust with the business sector, the government is rolling out successive facilitation packages, leading to a transformative shift in Egypt’s tax landscape. Kouchouk noted that these measures have already received a strong and positive response, with businesses showing significant interest in the first phase of tax relief initiatives. This momentum signals confidence in the government’s economic direction and its commitment to supporting sustainable growth.