President Abdel Fattah El-Sisi held a meeting with Prime Minister Dr. Mostafa Madbouly and Minister of Finance Ahmed Kouchouk to review the financial performance for the fiscal year 2024/2025. Ambassador Mohamed El-Shenawy noted that the fiscal year recorded a historic primary surplus of EGP 629 billion (3.6% of GDP), reflecting an 80% increase compared to the previous year. Despite a 60% drop in Suez Canal revenues, the state maintained improvements in economic indicators alongside increased investments, industrial growth, and exports.
Tax revenues achieved the highest growth at 35%, driven by broadening the tax base and offering facilitations to taxpayers. Primary expenditures rose by 16.3%, while total revenues increased by 29%. Efforts to modernize the taxation system included the use of technology and settlement of disputes, leading to the collection of EGP 77.9 billion, in addition to an expansion in providing tax incentives.
The state allocated budgets to address critical cases, support health insurance, and advance education—among these measures were the appointment of 160,000 teachers and the provision of school meals at a cost of EGP 6.25 billion.
President El-Sisi stressed the importance of reinforcing fiscal discipline to support economic development, reduce debt servicing, and increase spending on social programs aimed at improving citizens’ lives and promoting social justice.
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