Egypt earmarks EGP80bn to support production, exports, startups – minister

Egypt has earmarked 80 billion Egyptian pounds ($1.5 billion) in its 2026/27 budget for programmes supporting production, manufacturing, entrepreneurship, and goods and services exports, Finance Minister Ahmed Kouchouk said on Sunday.

Speaking at the Techne Summit for entrepreneurship and technology, Kouchouk asserted the Finance Ministry’s readiness to support innovative initiatives that could strengthen economic growth and competitiveness.

Dialogue with startups and entrepreneurs helps the government develop more efficient systems suited to Egypt’s economic needs, Kouchouk said, describing such engagement as a source of inspiration.

He said Egypt’s simplified tax system was a homegrown initiative aimed at encouraging small businesses to formalise, grow and expand.

The ministry also provides financing through the Micro, Small and Medium Enterprise Development Agency (MSMEDA), while seeking to support economic activity without compromising fiscal stability, Kouchouk said.

The Finance Ministry is working with the Investment and Industry ministries to establish two funds targeting specific activities and sectors, with the aim of making economic support more focused and effective, he said.

On digitalisation, Kouchouk said the government’s priority was to simplify procedures and make public services easier and more efficient to access.

More than 1.2 million citizens have registered on the mobile application for real estate tax services, Kouchouk said. The application is being continuously developed to simplify procedures and improve service quality.