. A statement issued by the Ministry of Finance:

Minister of Finance in an open dialogue with investors and exporters on the new budget:

Presidential priorities in the "New Republic" will change the economic face of Egypt.

Completing the economic structural reforms of the 10 -year achievements of the year by attracting more investments, providing more employment and improving the level of living of citizens.

We dealt with "currency price differences" in 2023 in tax accounting and are ready to dialogue about any problems in the practical application.

We agree to establish tax and customs committees within the investor headquarters to facilitate them and solve their problems in their whereabouts.

A greater role for the private sector for more sustainable economic growth and providing one million job opportunities annually.

The state put a maximum limit for public investments in a trillion of pounds ... to make room for the private sector.

"We are with you with all that we can do to stimulate production and export."

"Inform us immediately of any challenges you face…We share together in overcoming it for the sake of our country and our people» .

Expanding support for agriculture, industry, communications, information technology and tourism.

We share with investors the burden of financing to reduce production costs and sustain economic growth.

Continuation of the initiative to support the interest of financing facilities stimulating productive sectors by 120 billion pounds.

The initiative to support small projects continues to provide accessible funds at 5 %

Parallel numbers in the new fiscal year reflect economic policies during the next stage

Increased support, social, health, education, production and export support allocations ... and the rationalization of spending in the rest of the sectors.

During the past six years, we have succeeded in achieving budget targets and financial discipline and dealing with harsh challenges during the past four years.

They are committed to implementing the strategy of lowering the miracle and the religion of the public..and the achievement of a large first excess 3.5 % of the GDP.

For the first time, an annual ceiling was placed for the public government with all its components ... until we reach less than 80 % in June 2027.

Creating the concept of the "public government" budget helps us in explaining the economic capabilities of the state's public finances, unity and comprehensiveness of the budget and raising the efficiency of public spending.

5.3 trillion pounds, revenues of the "public government" budget and expenses, 6.6 trillion pounds in the fiscal year 2024/2025

Calculating the official indicators of the state's public finances on the basis of revenues and expenses of budget "public government"

Ahmed Kajuk .. Deputy Minister of Financial Policy:

We continue to achieve budget targets and financial discipline and deal with challenges during the coming years.

Next year's "exceptional" budget is taking into account the achievement of the balance for the success of structural economic reforms.

Increased spending on human development and productive sectors only during the next fiscal year.

Muharram Hilal... Head of the Investors’ Union:

The government succeeded in release production requirements.

We await more initiatives and procedures that stimulate industry and production.

All appreciation to the Minister of Finance ... for his keenness to listen to investors and exporters and adopt their proposals.

Dr. Mohamed Moait, Minister of Finance, stressed that the presidential priorities in the "new republic" announced by President Abdel Fattah El -Sisi with the launch of a new stage in the process of building and developing the comprehensive capabilities of the modern Egyptian state, will contribute to changing the economic face of Egypt, as it is led by the completion of the march of economic structural reforms of 10 years of achievements to attract more investments, provide more employment and improve the living level of citizens, through continuous work to provide a larger role and space for the private sector for more sustainable economic growth and provide a million job opportunities annually, in a way that ensures optimal exploitation of ingredients and investment opportunities Promising, it is based on advanced infrastructure, and motivational benefits for local production and export in competitive sectors, especially since the state has placed a maximum limit for public investments in a trillion of pounds; To make room for the private sector.

The Minister added, in an open dialogue with investors and exporters on the new budget project for the fiscal year 2024/2025, that we are working with all the state’s bodies to increase our resources and enhance our economic capabilities, by continuing to adopt more financial policies to settle the industry in Egypt, reflected in providing advantages and incentives Critical related to real targets in the strategic priority industrial sectors, pointing out that we are committed to paying the path of expansion in the initiatives supporting investment in agriculture, industry, communications, information technology and tourism, and that we are also ready to adopt any initiatives or measures to enable the private sector to lead economic activity .. He said forwarding his dialogue for investors and exporters: “We are with you with all the ones that we can do to stimulate production and export ... and immediately inform us of any challenges facing you ... and we participate together in their overcoming for the sake of our country and our people.”

The minister pointed out that we share with investors the burdens of financing to reduce production costs, stimulate export and sustain economic growth, explaining the continuation of the initiative to support the benefit of financing facilities that stimulate the productive sectors of 120 billion pounds, at a interest not exceeding 15 % so that the state treasury bears about 8 billion pounds a difference of the interest rate annually, while maintaining the interest rate at 11 % for current funds and balances used to finance working capital, pointing to the continuation of the initiative to support small projects also providing accessible funds at 5 % interest and the treasury bears the price difference.

The minister explained that we are continuing the path of expanding the tax base through the optimal exploitation of electronic systems to limit the tax community more accurately and achieve tax justice, and we have already succeeded in integrating part of the informal economy, reflected in the growth of tax revenues by more than 38 % since the start of the last fiscal year until now, explaining that we are keen to stabilize tax policies; to advance the efforts of recovery, stability and economic development, and that there is no increase in the burdens of taxes or customs tariffs on investors, during the next fiscal year, and we will study all the ideas presented to alleviate the burdens on the productive process, and we have agreed to establish tax and customs committees within the investor headquarters to facilitate them and solve their problems in the places of their presence, and we have addressed the "currency price differences" in 2023 in tax accounting and are ready to dialogue about any problems in practical application.

The minister stressed that the budget numbers in the new fiscal year reflect economic policies and are consistent with the presidential priorities, during the next stage, where the government is committed to increasing allocations of support, social protection, health, education, support for production and export in the new budget, and rationalizing spending in the rest of the sectors, in order to achieve financial discipline, While targeting the continued efforts to alleviate the effects of inflationary burdens on citizens as much as possible.

The minister said, during the past six years, we have succeeded in achieving budget targets and financial discipline, and also dealing with harsh challenges during the past four years, and that we are committed to implementing the strategy of reducing deficit rates and public debt, and achieving a large first surplus of 3.5 % of the GDP, explaining that for the first time in the history of Egypt, a annual ceiling for the public government is placed in all its components, declining every year, until we reach the lowest 80 % in June 2027, and this "ceiling" can only be overcome in national imperatives and cases of necessity with the approval of the President of the Republic, the Cabinet and the parliament, in addition to setting a ceiling for guarantees during the next year, with the first and half -surplus excessive revenue «IPOs» to start reducing the government's debt and service burdens, directly, and increase the value of the dividends that devolve to the treasury in all state companies and bodies.

The minister added that the recent amendments to the Unified Finance Law provide legislative mechanisms that enable us to control the rates of deficit and debt for the gross domestic product, as the official indicators of the state's public finance will be calculated on the basis of revenues and expenses of the budget of the "public government" that have been created, to include the budgets of all public economic bodies and the service and administrative authorities of the state and localities, to reach the total expenses of the public government, 6.6 trillion pounds, and its revenues are 5.3 trillion pounds for the fiscal year 2024/2025, in a way that reflects the state's efforts in consolidating the principle of totalitarian budget that helps us in explaining the economic capabilities of the state’s public financial, and raising the efficiency of public spending and more capacity to deal with the most hedges in facing internal and external challenges.

Ahmed Kajuk, Deputy Minister of Financial Policies and Institutional Development, said that we are continuing to achieve the target of budget and financial discipline and deal with challenges during the coming years by achieving a major preliminary surplus of 3.5 % and setting the rates of impotence and debt for the local product in a path of impurity in light of these difficult circumstances, especially that we took many measures and decisions that are consistent with efforts to correct the economic path, explaining that the budget for next year is "exceptional" taking into account the achievement of the necessary balance between the requirements for achieving financial discipline to make structural economic reforms a success, by rationalizing spending except for production and human development sectors only, which will witness the increase in purposeful financial allocations to support it.

Muharram Hilal, head of the Investors’ Union, said that Egypt's repercussions due to global turmoil were not easy, and the government succeeded in containing these difficult economic effects with bold reform measures, contributed to the release of production requirements, and was embodied in the continuation of the interest support initiative in credit facilities for the productive sectors, pointing out that we are awaiting more initiatives and procedures that stimulate the industry and production that reflect economic policies more supported for local production and export, and more in response to the requirements for paying the real economy growth.

He also expressed his appreciation to Dr. Mohamed Moait, Minister of Finance; for his keenness to conduct a community dialogue with investors and exporters, listen to their proposals and adopt them in a way that leads to strengthening the structure of the macroeconomic economy, and achieving financial and development targets.

The meeting was attended by: Mohamed Khamis, Secretary -General of the Egyptian Federation of Investor’s associations and Communities, Osama Haqila, Vice Head of the Federation, Mohamed Al -Murshidi, Samy Soliman, Ali Hamza, Abdullah Al -Ghazali, Alaa Al -Saqti, Sabahi Nasr, Mahmoud Al - Qothi, members of the Federation Council, and Major General Mahmoud Al -Shahawi the Executive Director of the Federation’s Board of Directors, Mohamed Samy Saad, Chairman of the Egyptian Federation for Construction and Building Contractors, Tamer El -Shorbaji, President of the Investors Youth Association in North Sinai, Bassam Al -Shanwani, President of the Business Youth Association, Yusri Al -Sharqawi, President of the African Egyptian Businessmen Association, and Mohamed Al -Aydi, Undersecretary of the Export Council for Engineering Industries, Walid Jamal Al -Din, Chairman of the Export Council for Building Materials, and Mary Lewis Bashi, Chairman of the Export Council for Ready -made garments.