Monday 22 December 2025 – 11:40 AM
Ahmed Kjouk confirmed Minister of FinanceThe Egyptian and Arab private sector can make a major shift in the region’s economies, and our role is to provide it with the greatest amount of support.
The minister said, during his participation in the meeting of the Council of the General Federation of Chambers of Commerce, Industry and Agriculture in the Arab Countries: We aim to transform Egypt into a regional center for manufacturing and export to Africa, Europe and Asia, pointing out that we are moving within the framework of broader economic policies that are more competitive and attractive to foreign direct investments.
He added: Our financial and economic priorities are betting on a greater role for the private sector to invest in the future for the benefit of the economy and citizens, explaining that intra-regional investments have witnessed significant increases, and there is still a greater opportunity for trade integration, and that the net foreign assets of the banking sector are improving, and the cash reserve balance as well.
Debt ratio of budget agencies
Kajok pointed out that: The rate of debt of the budget agencies to the gross domestic product declined from 96% to 86% within two years, and we aim to continue the decline path strongly this year. We have succeeded in reducing the external debt of the budget agencies by about 2 billion dollars and we are repaying more than we borrow.
The minister confirmed that the economic zone is witnessing a great investment movement and attracts a large and diverse number of companies aiming at production and export, pointing out that the increase in private investments by 73% during the last fiscal year reflects the ability of the private sector to lead economic growth in Egypt.
He said: Egypt opens its doors to investment flow with competitive elements and a stimulating and attractive business climate, explaining that the tax and customs facilitation initiative aims to build confidence and partnership with the business community and bring about rapid and tangible development.
Kojok added: We will announce with the Minister of Investment and Foreign Trade a large package of customs facilities to boost foreign trade movement and reduce customs clearance time.
Ahmed Al-Wakil, head of the Federation of Chambers of Commerce, said: The Minister of Finance has begun a major reform project for the tax system within a framework of trust and partnership with the business community, pointing out that the Egyptian government is working to stimulate the private sector to contribute more to economic growth.
