Arab Finance: Egypt's tax revenues jumped by 28% during the fiscal year (FY) 2025/2026 without any new burdens, Minister of Finance Ahmed Kouchouk said during the first meeting of the joint committee between the ministry and the Egyptian Exporters Association (ExpoLink).

Kouchouk attributed the recorded growth to an improved business climate and strong fiscal policies that provided economic support for production and exports.

Export subsidies reached EGP 28 billion in FY 2025/2026, representing an annual growth rate of 55%, he added.

He noted that the state's budget allocations align with the government's priorities of accelerating economic growth, boosting competitiveness, and maintaining fiscal stability.

Meanwhile, the government's economic team is working in close coordination to create a more attractive business environment for the private sector, with continuous collaboration among ministries and relevant authorities to integrate these priorities into government programs and initiatives.

From July 2025 to March 2026, Egypt's tax revenues increased by 29% due to stronger economic activity, a broader tax base, and ongoing efforts to simplify tax procedures.

Prime Minister Mostafa Madbouly recently reviewed the government's second package of tax incentives aimed at fostering partnership with the business community and attracting more investments.

Under the new incentives, the government has extended the suspension of value-added tax (VAT) on machinery and equipment used in industrial production, as well as medical devices, to four years, up from the current two-year period.