The Egyptian government is working on a second package of tax facilities, aimed at boosting investment and easing foreign trade restrictions, as per an announcement.

Prime Minister Mostafa Madbouly announced that the package, currently being developed in coordination with the Minister of Investment and Foreign Trade, will focus on encouraging exports and improving business conditions for the private sector.

During a press conference, Madbouly emphasized the importance of these measures, which will complement the announced tax reforms.

These steps come as part of Egypt’s ongoing efforts to stimulate economic growth and enhance the role of the private sector, particularly in light of positive indicators like the recent increase in the Purchasing Managers' Index (PMI) and foreign exchange reserves.

Madbouly also highlighted recent diplomatic and economic achievements, including investment agreements with China and Türkiya, which are expected to create significant job opportunities and bolster bilateral trade.

Additionally, Madbouly reaffirmed the government’s commitment to controlling inflation, in line with the Central Bank of Egypt's (CBE) plans to reduce the rate below 10% by the end of 2025.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).