Arab Finance: President Abdel Fattah El-Sisi met with Prime Minister Moustafa Madbouly and Minister of Finance Ahmed Kouchouk to review the fiscal year (FY) 2026/2027 budget, according to a statement.
The meeting discussed implementing targeted tax and customs facilitations, Spokesman for the Presidency Mohamed El-Shennawy highlighted.
This includes expansion of the tax base by increasing tax compliance without imposing additional or significant burdens on citizens or the business community.
Kouchouk noted that the set policy aims to boost growth and enhance the competitiveness of the Egyptian economy, while maintaining fiscal discipline.
These policies target a growth rate of 5.4% and allocate EGP 90 billion for economic activity support programs tied to tangible outcomes. This is in addition to financial support for energy and the achievement of a primary surplus of EGP 1.2 trillion.
During the same meeting, Kouchouk added that there will be a significant improvement in all debt service indicators, along with a sustained reduction in the debt-to-GDP ratio.
Priorities of the fiscal policy also cover increases in health and education budgets, as well as teachers' salaries.
For his part, President El-Sisi affirmed the necessity of sustaining the path of comprehensive institutional reform to secure solid governance by rationalizing public expenditure, improving public revenues, and reducing government debt.
