In a meeting with Georgieva on the sidelines of the G20 meetings in Brazil on Friday, Kouchouk reaffirmed Egypt's commitment to fiscal discipline to ensure a downward trajectory of budgetary debt relative to GDP.

Kouchouk said Egypt is exerting efforts to curb inflation rates to stabilize prices to raise living standards and support corporate competitiveness.

The aim is to create fiscal space to increase spending on education, health, and social protection, he added.

Minister Kouchouk emphasized that Egypt deals with complex geopolitical repercussions in a balanced manner to improve economic performance.

He expressed his anticipation for the IMF Executive Board's approval of the third review of Egypt's economic reform program on 29 July, aspiring to the continued success of future reviews and pursuing funding from the IMF's Resilience and Sustainability Trust.

Kouchouk further explained that Egypt is keen on driving structural reforms and encouraging private investments in renewable energy, technology, water desalination, and infrastructure.

He added that economic policies align with ceilings set on total public investments, government guarantees, and the public debt-to-GDP ratio.

The minister highlighted that the government's priorities in the coming period are to increase private sector investments, boost productive and export activities, and develop the business environment to enhance the competitiveness of the Egyptian economy and attract foreign direct investment.

 He underscored the ongoing efforts to simplify tax and customs procedures to rebuild trust between the business community and the tax administration, improving services for taxpayers.