Egypt’s tax reforms aim to boost economic growth – FinMin

Egypt’s Finance Minister, Ahmed Kouchouk, announced a comprehensive overhaul of the tax system, introducing new reforms and facilitation measures designed to boost investment and address challenges in the informal economy.

These changes are part of broader financial policies aimed at stimulating economic activity, production, and exports, with a focus on private sector growth in sectors such as renewable energy, information technology, and exports.

In his first meeting with US Ambassador in Cairo, Herro Mustafa Garg, on Monday, Kouchouk emphasised efforts to strengthen relationships with local and foreign investors through a reform programme intended to restore business confidence.

He also highlighted the allocation of financial resources for human development and social protection programmes, alongside plans to diversify financing sources to reduce the debt-to-GDP ratio, including issuing green bonds and sukuk.

The minster noted that Egypt’s economic opportunities and advanced infrastructure are crucial for enhancing partnerships with American businesses.

In response, Ambassador Garg reaffirmed the US commitment to supporting Egypt’s economic stability and strengthening bilateral economic relations, expressing optimism about improvements in economic conditions and the investment environment.

Attribution: Ministry of Finance

Subediting: M. S. Salama