Egypt: Tax revenue growth, plans for economic stimulus

Egypt’s tax revenues surged by 38 percent in the first half of the 2024/2025 fiscal year, according to Finance Minister Ahmed Kouchouk. During a panel organized by the Egyptian Association for Direct Investment and Venture Capital, Kouchouk attributed this growth to the Government’s ongoing efforts to broaden the tax base and strengthen cooperation with taxpayers.

He expressed optimism that many economic challenges would be resolved as these initiatives advance, thereby reinforcing stability and encouraging further business expansion.

Looking ahead to the next fiscal year, Kouchouk shared that Egypt intends to triple its allocations for economic stimulus programs compared to the current year. This move underscores the government’s commitment to promoting economic growth, supporting key industries, and improving the overall business environment. He also highlighted Egypt’s focus on boosting private sector involvement as a critical element for fostering sustainable and inclusive development.

Kouchouk stressed the importance of a unified and strategic approach within the economic ministerial group, ensuring that priorities are aligned under a clear vision to drive growth. He further emphasized that the government is highly open to feedback from the business community, ensuring that policies are responsive to market realities. In support of businesses, the government is adopting flexible fiscal measures to ease burdens on productive and export-focused sectors, thereby improving Egypt’s competitiveness and fostering a business-friendly atmosphere that attracts long-term investment.