Egypt’s tax revenues increased by 38% in H1 2024/2025, attributed to government efforts to boost the tax base. Plans to triple economic stimulus funds aim to enhance business growth and private sector involvement, supported by flexible fiscal measures to improve competitiveness.
Egypt’s Finance Minister Ahmed Kouchouk reported a remarkable 38 percent increase in tax revenues during the first half of the 2024/2025 fiscal year. This growth is attributed to the government’s continuous efforts to widen the tax base and enhance collaboration with taxpayers, reinforcing optimism about overcoming economic challenges and supporting business growth.
Looking towards the upcoming fiscal year, Minister Kouchouk announced plans to triple the allocations for economic stimulus programs, highlighting the government’s dedication to advancing economic growth, assisting vital industries, and enhancing the business climate. Encouraging private sector engagement remains a pivotal aspect of promoting sustainable and inclusive economic development.
Kouchouk also emphasized the need for a cohesive strategy within the economic ministerial group, ensuring that initiatives align with a clear growth vision. He reiterated the government’s receptiveness to input from the business community, aiming to align policies with market needs. To support enterprises, the government is implementing flexible fiscal measures aimed at alleviating pressures on productive and export-driven sectors, thereby enhancing Egypt’s competitiveness and cultivating a favorable investment climate.
In summary, Egypt’s tax revenue growth indicates successful fiscal strategies, and the government’s plan to significantly increase economic stimulus allocations demonstrates a firm commitment to fostering growth and enhancing the business environment. Through strategic collaboration with the private sector and flexible fiscal policies, Egypt aims to establish a sustainable economic future that attracts investment and supports broad-based development.
Original Source: northafricapost.com
