CAIRO, May 25 (MENA) – Egypt recorded a primary budget surplus of 3.1% of GDP from July, 2024 to April, 2025, the highest on record, despite rising interest rates, Finance Minister Ahmed Kouchouk said on Sunday.

Speaking at the Egypt-US Policy Leaders Forum 2025, hosted by the American Chamber of Commerce, Kouchouk said the government remains committed to reducing debt-to-GDP levels and creating fiscal space to boost spending on health, education, and development.

He noted that Egypt's economic reforms are starting to yield results, with strong macroeconomic and fiscal performance over the past 10 months and increasing investor-driven growth.

The government reforms helped to raise the private sector’s share of total investments to 60% by the second half of 2024, Kouchouk said, adding that policies are focused on empowering private enterprise and maintaining fiscal discipline while supporting key sectors like industry, agriculture, tourism, and exports.

On social protection, Kouchouk said new measures prioritize direct cash transfers and healthcare for vulnerable groups, including higher allocations for state-funded medical treatment.

He also said recent tax reform initiatives are designed to foster “trust, partnership, and certainty” with businesses. Thousands of new taxpayers have voluntarily joined the system to benefit from incentives, and the government plans to extend similar relief to property taxes and customs procedures, according to him.
(MENA)
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