Finance Minister: We Aim to Reduce Budget Debt to Below 80% by June 2026

Ahmed Kouchouk, the Minister of Finance, stated that the Egyptian economy offers diverse, attractive, and more competitive investment opportunities, especially in the fields of manufacturing and export. He confirmed that the business climate is witnessing a noticeable improvement and called on local and international partners to expand their investment activities in Egypt, according to a statement issued by the Ministry of Finance today.

This came during the Finance Minister's meeting with members of the French Chamber of Commerce and Industry, where he explained that the state aims to attract investments in various productive, export, and technological sectors and to make Egypt a regional hub for production and export. He pointed out that the government targets reducing the debt ratio of budgetary bodies to GDP to below 80% by June 2026, as part of a clear and more ambitious strategy to improve government debt indicators, relying on innovative tools and the cooperation of all state entities.

The minister added that the private sector has proven its ability to compete and succeeded in leading the economic movement in Egypt, noting that the 73% increase in private investments last year reflects the injection of billions of Egyptian pounds into various economic projects.

Kouchouk said, "We have chosen the path of trust and partnership with the tax community, and we continue to facilitate procedures to encourage voluntary compliance," pointing out that the 35% increase in tax revenues last year without imposing new burdens reflects the improvement in economic activity and the private sector's response to fiscal policies.

The Finance Minister confirmed that the government is working to create new financial spaces to direct them to social protection programs, increase human development allocations, enhance social spending, and allocate resources to vital sectors, foremost among them healthcare and treatment of critical cases.

Kouchouk concluded his statements by saying, "Thanks to the private sector... together we are moving in the right direction to enhance the competitiveness of our economy."

For his part, Eric Chevalier, the French Ambassador to Cairo, said that the tax and customs reforms implemented by the Egyptian government stimulate the "trust and partnership" path with international investors. He confirmed that the Egyptian economy is developing for the better amid increasing growth rates and declining inflation rates, noting that the Egyptian government is making great efforts to boost exports to access global markets.

Emad El-Senbati, President of the French Chamber of Commerce and Industry in Egypt, expressed his appreciation for the Finance Minister's keenness to maintain continuous communication with the French business community in Egypt, as part of his efforts to build bridges of trust and partnership with the local and foreign business community.

El-Senbati confirmed that the business community looks forward to enhancing clarity and stability in fiscal and tax policies, continuing to simplify administrative procedures, accelerating the pace of digital transformation, and maintaining institutional and regular dialogue channels with the private sector, contributing to supporting the investment climate, enhancing competitiveness, and achieving sustainable economic growth.