CAIRO - 5 November 2024: In a recent address to the House of Representatives, Finance Minister Ahmed Kouchouk outlined a strategic framework for the ministry’s upcoming period, centered around four key pillars: economic resilience, debt management, fiscal reform, and enhanced social protections.
Kouchouk emphasized the government’s commitment to building lasting partnerships with revenue sectors, the private business community, and financial stakeholders to foster economic stability and attract investment.
As part of this initiative, the government introduced a comprehensive tax facilitation package aimed at strengthening collaboration between tax departments and the private sector.
Comprising 20 specific measures to be implemented throughout FY2024/2025, this package is designed to reduce the burden on financiers, simplify procedures, and build a more cooperative environment.
The full rollout of the tax facilitation package is expected to be completed by June 2025.
Kouchouk also pointed to Egypt’s vision for a fully integrated tax system, encompassing all tax bases to create a more effective and inclusive revenue model.
With tax revenue rates already up by 45 percent, the ministry’s efforts are yielding tangible results.
For the first time, the next budget will include a three-year outlook, providing a medium-term fiscal framework to support more stable economic planning.
In a move to reinforce fiscal discipline, binding debt limits have been set, requiring parliamentary approval for any excess, further demonstrating the government’s commitment to fiscal responsibility.
Additionally, the government has ensured funding for essential services, covering critical areas such as medicine, basic goods, and the stability of the electricity sector to support citizens’ needs during this reform period.
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