Finance Minister Ahmed Kouchouk said Egypt looks forward to continued efforts to strengthen its economic partnership with the European Union to support the country’s fiscal and economic reform agenda.He noted that promising opportunities are available for European companies, allowing them to use their bases in Egypt as a gateway to expand across the region.
During a meeting with Deputy Director-General for Economic and Financial Affairs at the European Commission Annika Eriksgard on the sidelines of the International Monetary Fund and World Bank meetings in Bangkok, Kouchouk said Egypt had taken balanced, proactive measures that helped it overcome many geopolitical challenges.He added that the government was pursuing fiscal policies aimed at driving economic growth, maintaining fiscal discipline, reducing debt levels and supporting social protection.
Kouchouk said Egypt had achieved strong fiscal performance in the previous fiscal year, driven by growth in tourism, telecommunications, information technology and manufacturing. He added that the government had introduced packages of tax, real estate tax and customs facilitation measures to encourage investment, production and exports.
He also highlighted efforts to lower financing costs by diversifying debt instruments, broadening the investor base and strengthening investor confidence in the Egyptian economy. Expanding the use of innovative financing instruments and blended finance, he said, would help mitigate risks and attract more private investment.
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