“As a project of unprecedented scale and impact, Ras El Hekma will be a catalyst for the development of Egypt’s economy" explained His Excellency Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ
The largest surge of inflows, approximately $40.5 billion, was recorded in the second half of the fiscal year, mainly due to the execution of the Ras El Hekma agreement valued at $35 billion
The overall surplus was largely driven by a substantial performance in the second half of FY2023/2024, where it soared to $10.1 billion, attributed to structural reforms implemented on March 6, 2024, which bolstered investor confidence
In its recently released Regional Economic Prospects report, the European Bank for Reconstruction and Development (EBRD) updated its forecast for Egypt’s economic growth, highlighting a cautious recovery
These include simplifying the tax system, enhancing partnerships with taxpayers, and reducing uncertainty surrounding administrative costs, according to an official statement from the Ministry of Finance
