Egypt seeks deeper EU economic ties at IMF–World Bank meetings

Egypt is seeking to deepen its economic partnership with the European Union to support economic and fiscal reforms and attract more European investment, Finance Minister Ahmed Kouchouk said on Wednesday.

Speaking at a meeting with Annika Eriksgård, Deputy Director-General for Economic and Financial Affairs at the European Commission, on the sidelines of the International Monetary Fund and World Bank annual meetings in Bangkok, Kouchouk said Egypt offered promising opportunities for European companies seeking a base for regional expansion.

Egypt had taken proactive measures to navigate geopolitical challenges, Kouchouk said, adding that the government was pursuing fiscal policies aimed at supporting economic growth, maintaining fiscal discipline, reducing public debt, and strengthening social protection.

He said Egypt had recorded strong fiscal performance in the previous fiscal year, supported by growth in tourism, telecommunications, information technology, and manufacturing.

The government had also introduced tax, real estate, and customs facilitation packages to encourage investment, production, and exports, he added.

Kouchouk said Egypt was working to lower financing costs by diversifying its debt instruments, broadening its investor base and strengthening investor confidence.

Expanding the use of innovative financing instruments and blended finance could help mitigate investment risks and attract more private capital, he said.