Finance Minister Ahmed Kouchouk said concessional financing is being provided to companies through the Micro, Small and Medium Enterprise Development Agency (MSMEDA), stressing that the ministry’s role is to support economic activity and stimulate growth while maintaining fiscal stability.

He said EGP 80bn has been allocated in the current budget to programmes supporting and stimulating production, exports and entrepreneurship.

Kouchouk said dialogue with startups and entrepreneurs is a source of inspiration for the ministry and helps foster innovation and development, adding that exchanging views with partners helps the ministry design systems that are more efficient and better suited to conditions in Egypt.

Speaking during his participation in the Techne Summit for entrepreneurship and technology, the Finance Minister said the simplified tax system is a wholly Egyptian initiative aimed at encouraging small businesses and supporting their growth and expansion.

He added that the government is ready to finance any innovative initiatives that contribute to strengthening the growth and competitiveness of the Egyptian economy.

Kouchouk said the ministry aims to cooperate with the ministries of investment and industry to establish two funds to support specific activities and sectors, helping to direct economic support in a more targeted and effective manner.

He added that the primary objective of digital transformation is to improve services provided to the public by simplifying procedures and making services easier and more efficient to access.

Kouchouk said citizens had responded positively to the real estate tax mobile application, with the number of people registered on the app exceeding 1.2 million.

He added that the application is undergoing continuous development to further simplify procedures, make services easier to access and improve the quality of services provided to citizens.