Egypt's Finance Ministry on Tuesday unveiled the draft state budget for fiscal year 2025/26, emphasising a strategy centered on economic growth, financial stability, and deeper collaboration with the private sector. Presenting the budget to the Parliament, Finance Minister Ahmed Kouchouk said the new financial roadmap builds on reforms undertaken over the past nine months, which have led to a "notable improvement" in the country's fiscal and economic performance. "This is a budget of growth, stability, and partnership with the business community," Minister Kouchouk told lawmakers. "We are committed to accelerating positive transformation in the Egyptian economy, reflected in improved living standards and stronger investor confidence." The minister highlighted four key priorities underpinning the fiscal policy: * Increased investment in human capital and social protection programmes, * A balanced fiscal approach to boost economic growth while safeguarding macroeconomic stability, * A gradual reduction in public debt levels and servicing costs, and * Expanding the tax base through voluntary compliance and taxpayer support. The minister stressed that the government seeks to modernise the tax authority into a partner that protects both taxpayer rights and state revenues. "We're aiming for a simplified, investment-friendly tax system. Without your support, these reforms would not have moved from ideas to tangible progress," Minister Kouchouk told MPs, referencing his earlier appearance before the chamber after the first 100 days in office. The draft budget, which is now under parliamentary review, is part of a broader effort by Cairo to restore investor confidence and reinvigorate the economy amid ongoing global and regional headwinds. Attribution: Amwal Al Ghad English
