Kouchouk stressed to Berger that the country’s monetary policies will be more effective in managing risks and boosting the competitiveness of its economy.

He noted that the forthcoming initial tranche of the EU's 7.4 billion euro financing package demonstrates Egypt's determination to bolster partnerships and trust with the local and foreign business community.

The minister also underscored efforts to streamline and unify procedures and tax transactions, enhance tax certainty, and support startups by aligning tax needs with government initiatives designed to stimulate investment and boost local production.

“We believe in the necessity of helping our partners in the private sector to be more competitive in all areas of investment and business,” Kouchouk said.

He further noted that the ministry is currently pressing ahead with efforts to reduce debt and debt service levels relative to the GDP.

It is also keen to diversify financing sources and instruments, expanding the investor base within a strategic framework to drive down debt indicators.

The EU is expected to disburse one billion euros as the first tranche of its 7.4 billion euros commitment during this fall.

This disbursement is part of the agreement signed during the Egypt-EU Investment Conference hosted by Egypt on 29-30 June.