In a discussion panel at the Egyptian Businessmen’s Association (EBA), Finance Minister, Ahmed Kouchouk, underscored that expanding the tax base in a fair and stimulating manner is a priority. He confirmed that the first package of tax facilitations will be implemented during the current year as promised, to build bridges of trust, partnership, and support with the business community.
“The application of the sample-based tax examination system at all tax centers confirms our confidence in our taxpayer partners,” said Kouchouk, noting that “the first package of tax facilitations reflects a realistic assessment and flexible approach to challenges.”
Coordinated Economic Approach
The minister explained that the government is moving on balanced tracks to enable the private sector to lead growth and development.
“We have launched an initiative with the Ministry of Tourism to increase hotel rooms, and another with the Ministry of Industry to stimulate productive sectors,” Kouchouk stated. “We aim to expand the base of beneficiaries from financing facilities supported by the State Treasury.”
Clean Energy and Economic Growth
The Finance Ministry is working with the energy sector to encourage individuals and companies to switch to cleaner and less expensive energy sources. “We seek to expand the scope of influence of our fiscal policy to become more capable of driving economic activity,” said the minister, adding that they are “open to any ideas that stimulate the business environment in Egypt, linked to clear objectives and specific results.”
Debt Reduction and Export Support
Kouchouk affirmed the ministry’s commitment to working on an integrated strategy to reduce public debt within a consistent vision to improve public finance indicators. He announced an ambitious program in next year’s budget to support the export sector, noting that they are working in full coordination with the Ministry of Investment and Foreign Trade to develop the customs system to facilitate trade movement.
The discussion panel was chaired by Eng. Ali Eissa, President of the Egyptian Businessmen’s Association, and moderated by Maged Ezz El-Din, Chairman of the Finance Committee, and Mohanad Khaled, Treasurer of the Association.
