Prime Minister, Mostafa Madbouly noted productive discussions with the International Monetary Fund (IMF) on extending the timeline of specific economic measures, in a press conference following the Cabinet’s meeting.

IMF Managing Director Kristalina Georgieva is set to visit Egypt next week, followed by a review mission to further these discussions, he added.

During the conference, He referenced a recent report by Reuters highlighting Egypt’s economic growth and forecasting inflation to be around 20.4%.

Madbouly assured the public that Egypt has a secure strategic reserve of essential goods, affirming there is no shortage.

He announced measures aimed at simplifying tax procedures and improving the overall business climate in Egypt.

The Egyptian government is taking steps to create a more competitive environment for investors, responding to their requests with streamlined tax processes.

In a subsequent press conference with Finance Minister, Ahmed Kouchouk, it was confirmed that the Ministry of Finance is providing facilities to help taxpayers settle arbitrary tax assessments, ensuring smoother compliance.

Additionally, the Egyptian government plans to reduce tax burdens on projects valued under EGP 15 million, supporting smaller businesses and encouraging entrepreneurship in the country.