Egypt’s economic trajectory is “reassuring” and maintains a strict balance between stimulating production and exports while ensuring fiscal discipline, Minister of Finance Ahmed Kouchouk said.

Speaking at a new round of the Egyptian-European economic dialogue in Cairo, Kouchouk said the government has taken proactive measures to ensure a positive and flexible response to current and potential challenges. He added that the finance ministry is working to improve the tax system to encourage voluntary compliance and attract new taxpayers.

Describing the European Union as a key partner, the minister noted that dialogue with the bloc is highly fruitful given international “uncertainty”. Egypt anticipates a growing economic partnership, with significant opportunities for mutual trade and the growth of European companies, he said.

The country’s recent reforms mean it is facing global economic shocks from a strengthened financial position, Deputy Minister of Finance for Fiscal Policies Yasser Sobhi said. He noted that financial and economic performance over the first nine months of the fiscal year reflects Egypt’s ability to meet its annual targets.

Maintaining financial stability is the foundational pillar for expanding economic activities and achieving comprehensive, sustainable growth, Sobhi said, adding that broadening the economic, tax, and production bases tops fiscal policy priorities.

Increasing exports is also a priority, he said, noting that open markets benefit the private sector in both Egypt and Europe, and that the EU’s development increases growth opportunities for the Egyptian economy.

Annika Eriksgaard, Deputy Financial and Economic Official at the European Commission, said the EU appreciates Egypt’s implemented reforms, the noticeable improvement in its financial and economic performance, and its measures to manage external crises.

Describing Egypt as a key partner, Eriksgaard expressed satisfaction with the country’s policy developments and affirmed continued support. She added that the EU aims to increase the competitiveness of the European economy by encouraging innovation, raising productivity rates, and addressing energy challenges. 

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