Egypt’s PM, Finance Minister review objectives of upcoming FY’s budget

Sarah El-Sheikh
1 Min Read

Egypt’s Prime Minister Mostafa Madbouly held a meeting with Minister of Finance Mohamed Maait in the presence of Deputy Minister of Finance Ahmed Kouchouk in which he reviewed the goals of the new budget, which will be implemented next week with the start of FY2022/23.

They also discussed what it includes in terms of policies that will continue to stimulate economic and productive activities that support growth, especially in the industrial and export sectors, in addition to supporting growth led by the private sector and expansion in areas of digitisation and financial inclusion.

Furthermore, Maait affirmed the implementation of a comprehensive structural reform plan to maintain macroeconomic stability and control public finances, adding that the budget for the upcoming FY and its allocations aim to achieve sustainable financial discipline in parallel with expanding the social protection network.

Additionally, the finance minister was also briefed on the PM’s efforts to implement other aspects of reforms in the Ministry of Finance, foremost of which are the tax and customs systems, including expanding the tax base by reducing tax evasion methods.

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