finance
The Public Prosecutor also reviewed progress in the management of impounded vehicles, highlighting upgrades to storage facilities and efforts to eliminate overcrowding. These measures have enabled the return of a large number of vehicles to their owners and the full clearance of the 15th of May area [commonly known as the “Graveyard of Vehicles”] after decades of congestion. Several other sites across the country have also been cleared to make way for redevelopment projects.
Finance Minister Ahmed Kouchouk said the government is making tangible progress in reducing public budget-sector debt under a disciplined approach, backed by a strong political will.
Egyptian Minister of Finance Ahmed Kouchouk said the ministry is building on what has been achieved in the "partnership and confidence" track with investors.
Egyptian Minister of Finance Ahmed Kouchouk Saturday said that EGP 45 billion had been disbursed during the last fiscal year to support economic, productive, industrial, and export activities, within the framework of the state’s efforts to stimulate investment and back the growth of vital sectors.
This growth reflects a surge across all key components of the sector, including Islamic banks' assets, sukuk issuances, and other Sharia-compliant financial products.
The recognition highlights Kouchouk’s “visionary economic stewardship” and his role in implementing bold fiscal reforms that have driven financial stability and inclusive growth in Egypt.
President Abdel Fattah al-Sisi was briefed by several ministers on Sunday on the steps taken to enhance the competitiveness of the Egyptian economy and increase foreign direct investment through a unified national investment strategy.
The government aims for a 3.5% primary surplus this year and is working to streamline payment processes for investors by unifying collection agencies.
Kouchouk highlighted that the discussions — which have not yet been disclosed — include swapping debt for investments in clean energy and human development.
President Abdel Fatah El-Sisi held Tuesday a meeting with Prime Minister Mostafa Madbouli, Governor of the Central Bank of Egypt (CBE) Hassan Abdullah, and Finance Minister Ahmed Kujuk.
Kouchouk highlighted three core priorities for the upcoming period - enhancing economic stability, supporting the private sector, and reducing government debt
A total of 49% of all financing for all medium, small and micro projects goes to women, 49% to Upper Egypt, and 48% to people 40 years old and younger.
President El-Sisi placed high priority on continuing intensive efforts to curb inflation, through integrated and consistent programs and policies.
Minister Kouchouk added that the challenges are due to the high cost of financing and the decline in foreign direct investment flows directed to emerging countries.
The upgraded classification, facilitated by the International Finance Corporation (IFC)-led SBFN, is a testament to the Central Bank of Egypt's (CBE)
The move reflects the State's commitment to supporting low-and middle-income families, especially in light of the ongoing economic reforms made by the State, Maait added in a statement released on Thursday.
This came at the first follow-up report of the NWFE program, launched by the Ministry of International Cooperation, on the occasion of the one-year anniversary of the launch of the NWFE program, the link between water, food and energy projects.
During the meetings, Egyptian Minister of Finance Mohamed Maait said that Egypt's hosting of the conference "reflects the country's role regionally and internationally."
Those are located across seven governorates.
“New Urban Communities Authority assumes this responsibility, and new cities, such as New Alamein and the New Administrative Capital, are built in a self-development manner, and therefore they are far from the state's general budget,” he added.
