Ministry of Finance
The T-bills were offered in two installments, with the first valued at LE 45 billion with a 91-day term.
The minister called on countries, financial institutions, and the private sector to join the alliance, aiming to promote sustainable development and build economic resilience
The conference focused on Egypt’s plans to create a robust retail bond market, a step that aligns with the Ministry’s broader mission to develop the financial sector, broaden the investor base, and stimulate economic growth
The country’s budget entities also managed to reduce their external debt by about $4 billion in 2023, bringing the debt-to-GDP ratio down from 96 percent in June 2023 to 89.6 percent by June 2024.
Kouchouk added that these aim to stimulate growth among small businesses, simplify tax processes, and resolve existing tax disputes
The Ministries of Finance and Tourism have jointly announced that priority will be given to the governorates of Luxor, Aswan, Greater Cairo, the Red Sea, and South Sinai.
Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.
The minister highlighted that this is part of a broader strategy to diversify financing sources and attract both investors and savers to the local debt market.
Investments through public-private partnership (PPP) contracts reached LE 19.8 billion in the previous fiscal year, explained Kouchouk
During the meetings, Kouchouk emphasized the potential of the BRICS group to significantly reshape the global economic landscape in favor of emerging and developing countries.
Kouchouk highlighted the launch of Egypt’s first set of tax relief measures, featuring over 20 reforms designed to build trust with taxpayers and streamline tax services.
El-Kilani shared that the tax facilitation package aims to establish a comprehensive tax system for businesses with annual revenues not exceeding LE 15 million as part of the government's efforts to encourage and support small enterprises through simplified tax treatment.
The finance minister highlighted the collaborative efforts that have made the AIIB the fastest-growing bank in the region, emphasizing its role in supporting Egypt’s development trajectory through promising projects over the past few years.
During a recent visit to London, Finance Minister Ahmed Kouchok addressed over 200 investors from major financial institutions and investment banks across several meetings, presenting a comprehensive strategy aimed at stabilizing and transforming the nation's economy
While Kouchouk's meetings were not open to the press, sources told Bloomberg that he informed foreign investors about the plan to sell approximately $3 billion in external debt across various tranches
The policies will focus on further improving fiscal discipline in the state’s budget indicators, a crucial component for fostering economic growth and ensuring effective long-term planning.
The minister noted that upcoming financial policies are expected to significantly influence risk management and economic competitiveness
The new framework will simplify the tax filing process, allowing businesses to submit or amend tax returns for the years 2021 to 2023 without incurring penalties.
This partnership aims to strengthen the NIB's pivotal role as a key economic and investment driver crucial for advancing development goals.
Kouchouk highlighted three core priorities for the upcoming period - enhancing economic stability, supporting the private sector, and reducing government debt
