Egypt’s economy has been improving, with the private sector expanding and accounting for around 60 per cent of total investment, Finance Minister Ahmed Kouchouk has said.
International investors have renewed their confidence in the trajectory of the Egyptian economy, and we look to your efforts to boost investment inflows, Kouchouk told an open dialogue with the heads of Egyptian diplomatic missions abroad, attended by Minister of Foreign Affairs, International Co-operation, and Egyptian Expatriates, BadrAbdelatty
He added that the industrial, telecommunications and information technology, and tourism sectors had witnessed strong activity.
The government was “working on four priorities”: building confidence with the private sector and financiers, stimulating economic activity, reducing debt, and increasing spending on health, education and social protection, the minister explained.
He also stressed that the government viewed itself as a partner to investors and sought to help them expand and grow through further tax and customs incentives.
He also stressed state efforts to expand Egypt’s productive, industrial and export base in order to strengthen the competitiveness of the Egyptian economy.
Meanwhile, Kouchouk said that preliminary tax revenues due for 2024, following the implementation of the Competitive Neutrality Law, amounted to 67.4 billion Egyptian pounds.
Earlier, Abdelatty and Kouchouk discussedways of supporting Egypt’s economic and financial efforts through Egyptian diplomatic missions abroad in line with the state’s economic priorities.
