Egypt is pursuing a fiscal policy focused on supporting economic growth, boosting partnerships with the business community and prioritising human development, Finance Minister Ahmed Kouchouk said.
Reviewing the 13th edition of the Citizen’s Budget on Friday, Kouchouk said the government has worked to build trust with the business community through tax, customs and real estate incentive packages.
He added that the current budget includes a real increase in public-sector wages, with plans to increase wages for workers in the health and education sectors.
“Health and education allocations are targeted to grow at a higher rate, reflecting the budget’s focus on human development,” the minister said, stressing that promoting production and exports remained a top priority.
The budget also includes funding to help build a more competitive economy that responds more effectively to the needs of citizens and investors.
Minister Kouchouk outlined four integrated fiscal policy priorities: boosting economic activity, maintaining financial stability, supporting citizens, and implementing a coordinated strategy to improve government debt indicators, debt-servicing costs and debt maturity.
Meanwhile,Yasser Sobhi, Deputy Finance Minister for Fiscal Policies, said the budget allocates LE90 billion to economic programmes aimed at deepening partnerships with the private sector.
The allocation includes LE48 billion for export rebates and support for exporters, LE6.7 billion to support tourism, and LE6 billion to finance incentives for productive sectors and strengthen industrial and agricultural capacity.
