Tuesday 01 April/2025 – 10:28 AM
Ahmed Kajuk, Minister of Finance, said that the paths of public spending in the budget project for the new fiscal year 2025/2026 are integrated with the state’s efforts aimed at enhancing the competitiveness of the Egyptian economy by stimulating investment, localizing industry, and deepening local production, in a way that pushes the path of empowering the private sector, and expanding its contributions to economic activity as the locomotive of growth and development, taking into account that the Egyptian economy is large and varied, It has competitive advantages and preferential ingredients.
New Finance Budget Project 2025/2026
Kjok pointed out that the draft budget for the new fiscal year 2025/2026 includes exceptional allocations for supporting production, export, tourism, and the advancement of economic growth, in line with the priorities and targets of the government’s work program, and supports priority economic development initiatives with specific goals in a clear time frame.
The minister added that 78.1 billion pounds will be allocated to the budget project for the new fiscal year 2025/2026, for the most targeted initiatives and programs for productive and export activities and priority industries, including 8.3 billion pounds for the initiative to support the tourism sector, 5 billion pounds for priority industrial activities, and 3 billion pounds for the initiative to transfer vehicles to work with natural gas, and approve cash incentives from 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 to 3 5 billion pounds for medium, small and micro projects, and one billion pounds for the initiative to provide taxis operating natural gas and a quarter of transportation and put them to young people.
The Council of Ministers had agreed in its previous meeting chaired by Dr. Mustafa Madbouly, on the new fiscal year budget project 2025/2026 and decided to refer it to the House of Representatives, including revenues estimated at about 3.1 trillion pounds with an annual growth rate of 19 %, and expenses estimated at 4.6 trillion pounds, an increase of 18 % with targeting a first surplus of 4 % of the local product and reduced the debt of devices General budget.
