{"id":656701,"date":"2024-12-09T00:00:00","date_gmt":"2024-12-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports\/"},"modified":"2024-12-09T00:00:00","modified_gmt":"2024-12-09T00:00:00","slug":"finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/09\/finance-investment-ministries-working-on-incentive-package-in-the-next-budget-to-boost-manufacturing-and-exports\/","title":{"rendered":"Finance, investment ministries working on incentive package in the next budget to boost manufacturing and exports"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An incentive package to boost manufacturing and exports for the next state budget is in the works, <\/strong>with the Finance Ministry in discussions with the Investment Ministry about measures to support the private sector with a specific focus on industry and exports and the unifying of procedures, Finance Minister Ahmed Kouchouk said yesterday at an event with the National Press Authority. \u201cWe want to eliminate the idea of exemptions from our dictionary, so we are currently relying on more sustainable incentives policies than the idea of granting exemptions,\u201d Kouchouk explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The ministry has big targets for the end of the next fiscal year<\/strong>, planning to reduce the debt-to-GDP ratio to 84%, down from 89% at the end of the last fiscal year. This entails reducing external government debt to below USD 79 bn by June 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sovereign sukuk and green bonds will also play a role in this<\/strong>, by attracting more local investors to reduce the cost of borrowing, according to the minister.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Support for the middle class will also be a feature of the next budget<\/strong>, with Kouchouk explaining that increased social spending in this regard will help create more jobs and improve services.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But rising education and healthcare costs presents a challenge<\/strong>, with education costs rising 26% and healthcare by 25% in the first five months of the year \u2014 above the average sector spending growth of around 10%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But we should be ok on the wheat import front<\/strong>, as the minister said that even if global wheat prices rise, the government is buying shipments when prices are low.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government is preparing massive incentive packages in the upcoming state budget to catalyze private sector-led growth<\/p>\n","protected":false},"author":1,"featured_media":656702,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8507],"tags":[279,72,7087,125,100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-policy","tag-budget-watch","tag-enterpriseam","tag-finance","tag-investment-watch","tag-policy","wpautop","entry"],"acf":{"mongo_id":"f1d21f49-ee1a-4ad3-8ba3-2a7486eaa17d","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/745.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Finance, investment ministries working on incentive package in the next budget to boost manufacturing and exports","related_issue":[656689],"teaser":"The government is preparing massive incentive packages in the upcoming state budget to catalyze private sector-led growth","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.3dec7a3e-5229-4aec-8448-788bf7a2f7d5.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The new program will allow increasing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575551,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/19\/egypts-finance-minister-maait-talks-economy-in-imf-world-bank-meetings\/","url_meta":{"origin":656701,"position":1},"title":"Egypt\u2019s Finance Minister Maait talks economy in IMF, World Bank meetings","author":"enterpriseam admin","date":"19 October 2020","format":false,"excerpt":"INVESTMENT WATCH- FinMin pitches investment strategy, improving economic landscape to investors: Egypt is prioritizing investments in the transport, oil and gas, renewable energy, and manufacturing sectors, Finance Minister Mohamed Maait said in separate meetings with senior representatives from HSBC and Standard Chartered and unnamed foreign investors, according to a ministry\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556255,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/18\/new-business-incentives-are-in-the-works-at-the-finance-ministry-heres-the-rundown-from-vice-minister-of-finance-ahmed-kouchouk\/","url_meta":{"origin":656701,"position":2},"title":"New business incentives are in the works at the Finance Ministry \u2014 here\u2019s the rundown from Vice Minister of Finance Ahmed Kouchouk","author":"enterpriseam admin","date":"18 October 2021","format":false,"excerpt":"EXCLUSIVE- FinMin has a few incentives in the works for the private sector: Growing Egypt\u2019s tax base has always been a mandate of the Finance Ministry. And while a significant portion of that during the 2016 economic reform agenda had been focused on roping in as many business into the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/188.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598497,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/27\/finmin-looking-to-narrow-egypts-financing-gap-to-egp-720-bn-next-fiscal-year\/","url_meta":{"origin":656701,"position":3},"title":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year","author":"enterpriseam admin","date":"27 May 2019","format":false,"excerpt":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year -Kouchouk: The Finance Ministry is working to trim EGP 100 bn off Egypt\u2019s forecasted budget deficit in FY2019-2020 to EGP 720 bn, Vice Minister of Finance Ahmed Kouchouk tells Al Shorouk. According to Kouchouk, the ministry\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549030,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/egypts-first-ever-panda-bond-issuance-could-take-place-before-the-end-of-the-year\/","url_meta":{"origin":656701,"position":4},"title":"Egypt\u2019s first-ever Panda bond issuance could take place before the end of the year","author":"enterpriseam admin","date":"31 August 2022","format":false,"excerpt":"Maiden Panda bond sale coming this year? Egypt hopes to issue c.USD 500 mn of CNY-denominated bonds(panda bonds) in China before the end of the year, Vice Minister of Finance Ahmed Kouchouk told Al Arabiya TV (watch, runtime: 8:34). There\u2019s no \u201chard number\u201d on the size of the issuance, which\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":692839,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/14\/egypts-finance-minister-promises-no-new-taxes-in-wartime-budget\/","url_meta":{"origin":656701,"position":5},"title":"Egypt\u2019s Finance Minister promises no new taxes in wartime budget","author":"enterpriseam admin","date":"14 April 2026","format":false,"excerpt":"The FinMin looks to add 100k new taxpayers via incentive-driven reform","rel":"","context":"In &quot;The Big Story Today&quot;","block_context":{"text":"The Big Story Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-big-story-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/790.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/656701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=656701"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/656701\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/656689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/656702"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=656701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=656701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=656701"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=656701"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=656701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}