Egypt’s tax revenues rose by 38% in H1 of 2024/2025 due to improved taxpayer cooperation. Finance Minister Ahmed Kouchouk announced plans to triple economic stimulus allocations for the next fiscal year, highlighting a focus on the private sector and a unified approach for sustained growth.
In the first half of the 2024/2025 fiscal year, Egypt’s tax revenues experienced a remarkable 38 percent increase, as reported by Finance Minister Ahmed Kouchouk. This growth has been attributed to the government’s sustained efforts to expand the tax base and enhance collaboration with taxpayers. With these initiatives advancing, there is optimism that numerous economic challenges will be addressed, leading to greater stability and encouraging business growth.
Looking ahead, Kouchouk announced plans to triple the allocations for economic stimulus programs in the next fiscal year, emphasizing the government’s dedication to driving economic growth and supporting key industries. This significant increase underscores the commitment to improving the overall business environment and stimulating private sector participation, which Kouchouk identified as vital for achieving sustainable development.
He further highlighted the necessity of a coordinated and strategic approach within the economic ministerial group, ensuring that priorities are synchronized under a unified growth vision. Kouchouk emphasized the government’s openness to feedback from the business community, aiming to align policies with market realities. To bolster businesses, the government is implementing flexible fiscal measures tailored to relieve pressures on productive and export-oriented sectors, thereby enhancing Egypt’s competitiveness and fostering a conducive environment for long-term investment.
The recent surge in tax revenue, coupled with plans to significantly enhance economic stimulus allocations, reflects Egypt’s strategic commitment to economic improvement and stability. By fostering collaboration with the business sector and prioritizing fiscal flexibility, the government aims to create a robust and competitive economic landscape that encourages investment and growth.
Original Source: northafricapost.com
