Arab Finance: Egypt aims to increase the funding available for social protection and economic activities to EGP 4.8 trillion by fiscal year (FY) 2029/2030, up from approximately EGP 2.3 trillion in the previous fiscal year, Minister of Finance Ahmed Kouchouk said.

Speaking at the Egypt 2026 forum, Kouchouk explained that the government intends to expand its spending capacity without imposing significant new tax burdens or increasing public debt. He described this approach as a priority for providing greater certainty to businesses while avoiding inflationary pressures associated with rising debt.

To support the increase, the government plans to raise tax revenue to 15% of gross domestic product (GDP) over the next four years, compared with approximately 13% currently. Kouchouk said digitizing, simplifying, and streamlining tax procedures would underpin efforts to reach that target.

Beyond taxation, the Minister said that the government is working to increase non-tax revenue by improving profits generated by state-owned enterprises. Kouchouk added that these efforts would be accompanied by a budget aimed at expanding domestic resources in the coming fiscal year.

Earlier in the same conference, Prime Minister Mostafa Madbouly announced that Egypt is preparing a housing program covering rental units, social housing, and homes for middle-income earners, with construction and delivery planned over the next four years.