Egypt adopts proactive economic approach, FinMin tells investors in Washington

Egypt is taking a proactive approach to managing economic challenges through close coordination across state institutions, while prioritising the availability of goods and services and maintaining economic stability, Finance Minister Ahmed Kouchouk said in Washington.

Speaking at a roundtable with international investors hosted by RMB Bank on the sidelines of the IMF and World Bank Spring Meetings on Wednesday, Kouchouk said the government is focused on sustaining economic momentum despite a challenging global environment.

“We are addressing current challenges proactively, with full coordination across all state entities. Our priority is to ensure the availability of goods and services and maintain the pace of economic activity,” Kouchouk said.

He said Egypt’s economy grew 5.3 per cent in the first half of the current fiscal year, supported by strong performance in industry, information technology, tourism, and private investment.

Fiscal performance between July and March reflected improving economic conditions, alongside efforts to broaden the tax base, streamline administrative procedures, and strengthen confidence in the business environment, he said.

Egypt recorded a primary surplus of 3.5 per cent of gross domestic product during the period, supported by about 29 per cent growth in tax revenues without imposing additional burdens on investors or households.

Kouchouk also said the government is increasing investment in electricity transmission and distribution infrastructure to support an expanding pipeline of privately-led renewable energy projects, as part of broader efforts to modernise the energy system and attract further investment.

Attribution: Amwal Al Ghad English