Ahmed Kouchouk, Minister of Finance, confirmed that we are working to build bridges of trust and certainty between the Tax Authority and investors by laying the foundations of a clear, simple and fair tax system, and we have already begun implementing the first package of tax facilities. With the aim of providing better and easier tax services to the business community, he pointed out that we aim to stimulate increased private sector contributions to growth, within the framework of the financial and economic reform process.
The minister said, in a symposium at the Egyptian-British Business Association (BEBA), headed by Engineer Khaled Nosair, that we seek to reduce “the value and ratio of debt,” “external debt,” and “debt service.” To create greater financial space in the budget to spend on human development and social protection, explaining that setting a ceiling for public investments, “guarantees,” and “general government debt” contributes to achieving financial discipline and giving more space to the private sector in economic activity.
The minister added that we aim to expand partnership projects with the private sector (PPP) in various sectors of national priority, within the framework of the state’s supportive and stimulating efforts to maximize private investments, pointing out that expanding the concept of general government by merging 59 economic bodies with budget agencies contributes to “the comprehensiveness of the budget.” » Improving financial risk management, thus maintaining financial stability.
The Minister indicated that we are looking forward to a more flexible and comprehensive view from international classification institutions of the financial and economic performance of all emerging countries. Taking into account the pressures its economies are exposed to in light of geopolitical tensions and the associated external and internal challenges.
