Finance Minister Ahmed Kouchouk has stated that the fiscal year 2025/2026 budget will be one of "growth, stability, and partnership with the business community." Speaking during the presentation of the financial statement before the House of Representatives on Tuesday, Kouchouk noted that the Ministry is building on recent reforms and a notable improvement in financial and economic performance over the past nine months. The budget includes: * 160 billion Egyptian pounds for food subsidies (up 19 per cent). * 150 billion Egyptian pounds for petroleum and electricity subsidies. * 54 billion Egyptian pounds for the Takaful and Karama programme (up 35 per cent). * 45 billion Egyptian pounds for medical supplies and medicines (up 26 per cent). * 15.1 billion Egyptian pounds for government-funded healthcare (up 50 per cent). Additional allocations include: * 27 billion Egyptian pounds for sanitation and waste management (up 35 per cent). * 227 billion Egyptian pounds for pension fund contributions. * 13.6 billion Egyptian pounds for low-income housing (up 14.3 per cent). * 3.5 billion Egyptian pounds for natural gas connections. * 5.2 billion Egyptian pounds for railways. * 1.8 billion Egyptian pounds for railway and metro commuter pass. * 2.5 billion Egyptian pounds for public transport in Cairo and Alexandria. Moreover, Kouchouk said the the Tax Authority has begun to transform into a partner that protects the rights of taxpayers just as it safeguards the rights of the state, with a focus on expanding the tax base and encouraging voluntary compliance. On the other hand, Planning Minister Rania Al-Mashat presented the 2025/2026 economic and social development plan, highlighting the continuation of structural reforms, reduced state involvement to expand private sector participation, and coordination between monetary and fiscal policies. The plan aims to shift towards a sustainable growth model focused on high value-added, tradable sectors such as agriculture, manufacturing, ICT, tourism, and logistics, alongside services like healthcare, education, and scientific research. Al-Mashat also pointed to measures to enhance foreign currency liquidity through export growth, higher remittances, tourism, and Suez Canal revenues, while leveraging concessional finance, debt swaps, and maturity extensions to improve fiscal sustainability. Both ministers' financial statements were referred to the Budget and Planning Committee, while the development plan was sent to the Senate. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
