Gov’t has no plans to increase taxes – PM

CAIRO – Prime Minister Mostafa Madbouli announced that the government has no plans to increase taxes.

During a meeting with heads of committees of the House of Representatives, the prime minister reaffirmed the government’s commitment to continuing economic reforms while ensuring social protection for deserving citizens amidst unprecedented regional and international challenges that have created a climate of uncertainty on the global stage.

Madbouli also addressed the recent visit of Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), to Egypt. He noted her acknowledgment of the global difficulties, particularly in the Middle East, and highlighted her commendation of the government’s measures, in collaboration with the Central Bank of Egypt, which have helped stabilize the exchange rate and led to a decrease in inflation. However, she stressed the importance of continuing the reform process given the ongoing regional and global uncertainties.

Madbouli outlined the steps Egypt has taken and the projects implemented in the drinking water and sewage sectors to address challenges posed by the Ethiopian dam. He also discussed the measures taken to deal with power load shedding in the electricity sector, as consumption increased by 12% this summer compared to 2023, and the collaborative efforts with the Central Bank of Egypt to tackle this issue.

The premier reiterated the state’s commitment to combating terrorism in Sinai and highlighted the extensive developmental and service projects carried out there over the past decade. He emphasized that the Ministry of Industry has full authority to make decisions that support the sector and enhance production.

Additionally, he outlined the government’s initiatives to ensure the availability of goods in the market and increase supply to achieve market stability. He mentioned that discussions will take place regarding the licensing of medical clinics with the relevant authorities and stressed that several key bills, including the draft sports law, are being expedited for submission to parliament.