Finance Minister Ahmed Kouchouk said Egypt looks forward to more flexible comprehensive outlook by international classification institutions for the financial and economic performance of all emerging countries.
Speaking at a seminar organized by the British Egyptian Business Association (BEBA), under Khaled Nousir, the finance minister said Egypt seeks to reduce the debt ratio, external debt and debt service, to create greater financial space in the budget to be spent on human development and social protection.
Kouchouk stressed that Egypt works to build bridges of trust between the Egyptian Tax Authority and investors by laying the foundations of an efficient, equitable, and simple tax system.
He further noted that the first package of tax facilities was launched, with the aim of providing better and easier tax services to the business community in Egypt.
It is also meant to stimulate increased private sector contributions to growth, within the framework of the financial and economic reform process, Kouchouk added.
He explained that setting a ceiling for public investments, guarantees, and general government debt (the gross debt of the general government as a percentage of GDP) contributes to achieving financial discipline and giving more space to the private sector in economic activity within public-private partnership (PPP).
Minister Kouchouk further underlined that expanding the concept of general government by merging 59 economic bodies with budgetary bodies contributes to creating a comprehensive budget and improving financial risk management, and maintaining financial stability.
