During his meeting with the ambassadors of 15 Asian countries at the residence of the Turkish ambassador in Cairo, Kouchouk said that a primary surplus of 2.5% of gross domestic product (GDP) was achieved during the period from July to March 2025, and the total budget deficit declined to 6.3% of GDP, pointing out that we made “facilities and incentives” and achieved the highest annual growth rate of tax revenues of 38% by starting the path of building confidence with the business community and expanding the tax base.
He added that remittances from Egyptians abroad grew by
82% during the first half of the current fiscal year. The tourism sector also
grew by 13.1%, manufacturing by 12.4%, and communications and information
technology by 15.1% over the same six-month period. He explained that the
private sector accounted for 60% of total investments in the six-month period.
Kouchouk indicated that the Egyptian Tax Authority
extends "a hand of trust, partnership, and support" to the business
community within the framework of an integrated vision to empower the private
sector. He emphasized that the upcoming fiscal year's budget (2025/2026) is a
budget of "growth, stability, and partnership with the business
community," focusing significantly on supporting the production, industry,
export, and tourism sectors with more targeted programs and initiatives.
He added that we are ready to work together to overcome any challenges and provide more competitive investment incentives, noting that we aim to support investors with policies that maintain the competitiveness of the Egyptian economy and the stability of the economic and financial situation.