Egypt positioned for steady growth through 2029 – FinMin in Washington

Egypt’s economic outlook is set to improve steadily over the next four years, supported by a cohesive government strategy that prioritises productive and export-oriented growth, Finance Minister Ahmed Kouchouk said during a roundtable with over 60 investors hosted by Morgan Stanley in Washington.

Speaking on the sidelines of the 2025 World Bank Group/International Monetary Fund (IMF) Spring Meetings in Washington, Minister Kouchouk highlighted the resilience of Egypt’s economy, pointing to strong and reassuring financial and economic indicators recorded over the past nine months. These results, he said, provide a firm foundation for the continuation of growth-oriented reforms.

Minister Kouchouk announced that, for the first time, Egypt has incorporated medium-term financial and economic targets into its national budget framework. These targets include maintaining a primary surplus, reducing the overall fiscal deficit, and lowering both the cost and ratio of public debt to GDP.

He reiterated the government’s commitment to maintaining public debt ceilings, controlling state guarantees, and setting limits on public investments to ensure adequate fiscal space for economic, social, and human development.

In support of private sector development, Minister Kouchouk said the government is introducing clearly defined, time-bound initiatives aimed at enhancing Egypt’s economic competitiveness. As part of these efforts, 78 billion Egyptian pounds have been earmarked in the new budget to stimulate tourism, industrial output, and exports.

He also outlined a new approach to tax administration, focused on trust, partnership, and investor support. The strategy aims to expand the tax base and foster stronger cooperation and confidence between revenue authorities and the business community.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser