The external debt of Egypt's budgetary entities decreased by approximately $3 billion during the fiscal year 2023/2024, according to Finance Minister Ahmed Kouchouk.
Speaking during a meeting with members of the Coordination Committee of Party’s Youth Leaders and Politicians in Parliament, Kouchouk highlighted the government’s commitment to comprehensive economic reform aimed at stimulating investment and achieving sustainable growth.
The Finance Minister also announced plans to roll out facilitation packages for customs and real estate taxes in the near future, aimed at easing processes for investors and citizens.
To strengthen trust with financial partners and taxpayers, a comprehensive tax policy document extending until 2030 will be introduced in the first quarter of the upcoming year.
These measures are part of the government’s strategy to create a more favorable investment climate.
In a move to support the tourism sector, Kouchouk revealed that the treasury will fund 50 percent of the costs associated with constructing 10,000 hotel rooms over the next two years.
This initiative underscores the government’s focus on stimulating key economic sectors to drive growth and create jobs.
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