Egyptian Minister of Finance Mohamed Maait holds meeting with media and journalists on budget for fiscal year 2024/25

Egyptian Minister of Finance Mohamed Maait reiterated the government's commitment to economic stability through active reforms. The focus is on curbing inflation through effective policies to stimulate growth, especially in the private sector.

He noted the positive performance of the economy on these measures, especially in industry, agriculture, manufacturing and exports. This is reported by Daily News Egypt, a partner of TV BRICS.

Maait noted the steady improvement in economic conditions and continuous adjustments to ensure sustainability both domestically and globally. He also referred to the increase in the output of goods, which is helping to boost supply in local markets.

Since the beginning of the year, the volume of goods released has totalled more than US$14,5 billion.

In the new budget, total government spending totals EGP 3,9 trillion (US$83 billion), while expected revenues reach EGP 2,6 trillion (US$55,4 billion). The goal is to collect EGP 2 trillion (US$42,6 billion) in tax revenues without increasing the burden on citizens and investors, by integrating the informal economy with tax systems.

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