Tuesday 15/Apr/2025 – 01:40 PM
The Egyptian government has allocated, about 3 billion pounds, in the budget for the next fiscal year 2025/2026, to support the auto industry, its supplies and its components locally, within the framework of the plan to localize the auto industry in the local market.
According to the financial statement of the fiscal year budget 2025/2026, the Ministry of Finance has allocated 29.6 billion pounds to support industrial production with a growth rate of 69% from the budget for the current year to encourage the settlement and deepening of industrial activities.
Balance of the fiscal year 2025/2026
About 5 billion pounds were allocated to support priority industries to increase production capacity from machines and equipment, 5 billion pounds cash incentives to finance a large and varied number of initiatives directed to medium, small and micro projects, and 3 billion pounds to support the initiatives of transformation into more efficient energy sources, providing less expensive alternatives for everyone.
In motivating messages to the business community, Ahmed Kajuk, Minister of Finance, said during the financial statement of the next year’s budget project 2025/2026, in front of the House of Representatives, that we are aimed at encouraging the private sector with financial policies, initiatives and specific programs and more motivating economic growth.
The Minister pointed out that 8.4 billion pounds are allocated to the new budget to support tourism investment and increase the energy of the hotel rooms to accommodate more tourists, and 44.5 billion pounds to stimulate exports with an annual growth rate of 93% and prepare a new ambitious, modern and catalyst for supporting exporters.
