Finance ministry adopts ‘stable’ tax policies to lower Egypt’s deficit, debt: minister

Egyptian Finance Ministry is to adopt clear and stable tax policies within the coming period to reach government’s top priority to increase economic growth rates and boost employment opportunities.

Finance Minister Amr El-Garhy emphasised Monday the importance of lowering rates of budget deficit and public debt to achieve financial stability as the government focuses on executive procedures that contribute to reach maximum benefits from reforms that Egypt implements.

He stated that the government also aims at developing custom and tax administration to raise investments, develop local production, as well as increasing competitiveness to lift export rates.

The minister made these remarks during his meetings with Amr el Mounir -minister’s deputy for tax policies and Ahmed Kouchouk, minister’s deputy for financial policies, on the sidelines of Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington, DC.

Spring Meetings took place from 15-17 April, 2016 to discuss progress on the work of the IMF and the World Bank Group. It includes seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial markets.