Speaking at a panel hosted by Al Ahly Pharos Securities, Kouchouk said the figures confirmed the government’s bet on private sector expansion, noting that private investment rose 80 percent in the first nine months of the year.
Growth was led by industry, tourism, and ICT, while exports climbed 30 percent even as Suez Canal and energy revenues slumped.
Egypt has lost more than 60 percent of its canal income since Israel’s genocidal war on Gaza spilt into the Red Sea, disrupting global shipping routes.
Kouchouk said tax receipts had increased by 35 percent without new levies, crediting simplified procedures and improved compliance.
He pledged a second package of tax facilitations in the coming months, including faster valued-added tax (VAT) refunds, to bolster business confidence.
The International Monetary Fund (IMF), in its latest review of Egypt’s $8 billion loan programme, warned that external financing needs are set to rise from $25.9 billion to $30.4 billion before easing to $27.5 billion, with the current year’s financing gap revised up to $8.2 billion.
The Fund also revised upwards its forecast for Egypt’s financing gap in the current year, raising it from $5.2 billion to $8.2 billion.
Additionally, the IMF projects the shortfall in 2026/27 to nearly double to $6.1 billion, compared to a previous estimate of $3.2 billion.
Kouchouk said the government remained committed to fiscal discipline while pushing reforms to expand investment instruments, develop savings tools, and reduce public debt.
He added that Cairo would issue local sukuk in the first half of 2025/26 and seek more concessional development financing through the planning ministry.
“The promising start of the new fiscal year gives us confidence to continue on our ambitious economic path,” he said.
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