Egypt’s tax revenues rose by 38 percent in the first half of the fiscal year, attributed to broadening the tax base and taxpayer cooperation. The government plans to triple economic stimulus allocations, aiming for growth and private sector involvement. A strategic approach and feedback from the business community are emphasized to foster a supportive investment environment.
Egypt has witnessed a significant increase in tax revenues, with an impressive 38 percent growth recorded in the first half of the 2024/2025 fiscal year, as reported by Finance Minister Ahmed Kouchouk. This achievement is attributed to the government’s efforts to expand the tax base and improve collaboration with taxpayers. Kouchouk remains optimistic that these measures will effectively address many economic challenges, enhancing stability and fostering business growth.
Looking ahead, the Egyptian government plans to increase its budget for economic stimulus programs threefold in the upcoming fiscal year, compared to the present year. This initiative reflects the administration’s dedication to driving economic growth, supporting essential industries, and enhancing the overall business landscape. Additionally, Kouchouk emphasized the importance of increasing private sector participation to achieve sustainable and inclusive development in the economy.
Kouchouk also highlighted the necessity of a coordinated and strategic approach among the economic ministerial team, ensuring that all priorities are unified under a coherent vision aimed at promoting growth. He further pointed out the government’s openness to feedback from the business community, which will ensure that economic policies are tailored to market needs. To support businesses, flexible fiscal measures will be implemented to alleviate pressures on productive and export-oriented sectors, ultimately improving Egypt’s competitiveness and cultivating a favorable investment climate.
In summary, Egypt’s tax revenue growth of 38 percent reflects the government’s commitment to expanding the tax base and enhancing cooperation with taxpayers. As the nation seeks to triple its economic stimulus allocations, it underscores efforts to bolster key industries and promote private sector involvement. A unified approach within economic ministries and responsive policies are crucial for facilitating business growth and attracting long-term investments, thereby strengthening Egypt’s economic stability.
Original Source: northafricapost.com
