Finance Minister Ahmed Kouchouk declared that Egypt’s economy is on a positive trajectory, citing strong budget performance indicators in the past fiscal year. In meetings with financial institutions and banks in London, Kouchouk emphasized the government’s commitment to creating a business-friendly environment to attract investment and promote economic growth.
The minister highlighted achievements such as a 6.1 percent primary surplus, decreased budget deficit, and reductions in domestic and external debt. The goal is to further reduce the debt-to-GDP ratio and stimulate private sector growth through increased investment opportunities and privatization efforts.
Kouchouk underscored the importance of competitive neutrality, infrastructure improvement, and incentives for local production and exports. He also discussed the development of the government securities market to attract new investors and reduce financing costs.
Collaboration with the IMF and multilateral banks is essential for enhancing the Egyptian economy’s performance and managing macroeconomic risks. The minister engaged in discussions with institutional investors and the EBRD to explore opportunities for mutual cooperation and private sector empowerment.
Overall, Egypt is making strides towards a stable and prosperous economy, with a focus on attracting investment, stimulating growth, and enhancing cooperation with international partners.