Minister of Finance, Ahmed Kouchouk, emphasized during the opening of the annual Hapi conference that Egypt’s financial and tax policies are increasingly focused on stimulating investment, boosting economic activity, and supporting the private sector. He highlighted the government’s commitment to building trust and partnerships between revenue authorities, the business community, and taxpayers.

Kouchouk announced that the first phase of tax facilitation measures will be fully implemented by the end of the current fiscal year. To ensure the effective application of these measures, the Ministry has contracted several independent entities to evaluate the progress of tax reforms and guarantee their proper and targeted implementation.

He also revealed the experimental launch of a centralized electronic clearing system designed to enhance cash liquidity for investors. In addition, the government has introduced a simplified tax system for entrepreneurs, small businesses, and professionals with revenues up to EGP 15 million, aimed at fostering entrepreneurship and business growth.

The Minister underscored the importance of open, balanced, and impactful financial policies that benefit the business community. He noted that the Ministry is actively preparing ambitious initiatives with measurable goals to further stimulate economic activity. Among these initiatives is a plan to boost industrial productivity and localize industries in coordination with the Ministry of Industry. Another initiative focuses on encouraging companies and citizens to adopt more efficient, cost-effective, and environmentally friendly energy alternatives.

Looking ahead, Kouchouk stated that the Ministry is collaborating with the Minister of Investment and Foreign Trade to develop a comprehensive program to support the export sector in the upcoming fiscal year. Additionally, the government is targeting a reduction in domestic and foreign debt through an integrated and consistent strategy set to be implemented by the first quarter of 2025.

Despite global and regional economic challenges, Kouchouk highlighted positive preliminary financial indicators, reflecting efforts to maintain fiscal discipline and economic stability. These results underline the government’s dedication to fostering a resilient economic environment and promoting sustainable growth in key sectors.