مصر: توجيهات رئاسية بتدابير مالية وسلعية وسط تصعيد إقليمي

The Egyptian President Abdel Fattah El-Sisi directed the government to take all necessary financial and commodity precautions, in light of the ongoing regional developments and the escalation taking place in the area.

This came during a meeting held by President El-Sisi on Sunday with Prime Minister Dr. Mostafa Madbouly and Minister of Finance Ahmed Kouchok.

During the meeting, the Egyptian President emphasized the importance of benefiting from distinguished international experiences to enhance the stability of financial and tax policies, with the aim of improving the business climate, expanding the tax base, attracting more investments, increasing production and exports, and providing new job opportunities.

He also directed the continuation of intensive efforts to enhance financial discipline through government measures that contribute to improving the performance of the Egyptian economy and supporting national development efforts, while continuing to enhance allocations directed towards social protection, human development, and support programs for priority groups.

The meeting addressed the increasing fluctuations in global markets and the implications of geopolitical events, particularly the conflict between Iran and Israel, which has exacerbated the uncertainty in international markets, especially regarding shipping prices and some commodities.

According to a statement from the Presidency, the Egyptian Minister of Finance indicated that the total number of applications submitted over the past months for voluntary tax dispute settlements reached 110,000 applications. He added that the number of amended or new tax returns submitted by taxpayers exceeded 450,000 returns, reflecting taxpayers' confidence in the tax facilitation initiative and their positive engagement with it.

He clarified that the new and amended returns included additional taxes amounting to 54.76 billion Egyptian pounds. He also noted that the number of taxpayers who applied to benefit from the tax incentives and facilities for projects with annual revenues not exceeding 20 million Egyptian pounds, according to Law No. 6 of 2025, reached 52,901 taxpayers so far.

The meeting also discussed the latest developments in the Ministry of Finance's plan for international issuances for the fiscal year 2024-2025, and what has been implemented in line with the strategy to reduce external debt for budgetary entities. Preliminary indicators suggest that the government and the Ministry of Finance have successfully reduced the external debt balance by an amount ranging between 1 and 2 billion dollars annually.

The meeting also reviewed the actual financial performance for the period from July 2024 to May 2025, which included achieving a significant primary surplus, reducing the overall deficit ratio, and achieving strong and accelerating growth rates in tax revenues of 36%, as a result of improved economic activity and expanding the tax base without imposing new financial burdens, while continuing efforts to rationalize spending.