Kouchouk explained that the government has a financial vision for the current fiscal year within the framework of an integrated strategy to reduce debt levels and burdens while extending its maturity.
Ahmed Kouchouk, Minister of Finance, announced that domestic sukuk will be issued during the first half of the FY2025/2026, in a panel discussion organized by Al Ahly Pharos Securities Brokerage.
Kouchouk explained that the government has a financial vision for the current fiscal year within the framework of an integrated strategy to reduce debt levels and burdens while extending its maturity.
He added that there is ongoing collaboration with the Ministry of Planning to increase the share and scope of development financing from international partners.
The Minister also highlighted that the general budget shows positive and encouraging indicators, reflecting Egypt’s ability to attract more investment flows.
The third quarter of the previous fiscal year recorded a growth rate of 4.7%, driven by an 80% increase in private investments during the first nine months of the same year.
He affirmed that the bet on the private sector has paid off, with strong reflections in the financial and economic performance of the Egyptian state.
Kouchouk noted that the sectors of industry, tourism, telecommunications, and information technology have seen significant growth, with exports rising by about 30%.
He also pointed out that Egypt achieved its highest primary surplus rate of 3.6% of GDP during the previous fiscal year, despite a decline in Suez Canal revenues and the energy sector.
The Finance Minister further mentioned that tax revenues had increased by more than 35% without imposing new taxes or burdens.
He also confirmed that the second package of tax incentives would be launched in the near future to strengthen partnerships with the business community, adding that the Ministry is working on developing a more efficient and integrated system to expedite VAT refunds.
Kouchouk stated that Egypt is committed to continuing balanced fiscal policies to support economic growth without compromising financial stability and discipline.
The government will continue to drive reforms to innovate new tools for financing, saving, and investment, contributing to the expansion of economic activity, Kouchouk added.
