Tax revenue increased by around 500 billion of Egyptian pounds in 11 months, without any additional burden has been imposed on citizens, announces a statement from the Council of Ministers published Friday 5 September. “This success is due to a series of measures aimed at strengthening the economy, in particular by simplifying procedures registration and payment, the development of digital services and improving the services offered to taxpayers,” said a press release of the Council.

Macroeconomic performance is improving and the fiscal consolidation made it possible to reduce the deficit and contain the increase in debt, according to data from the Ministry of Finance. This one forecasts a growth rate of 4.4% in the first nine months of fiscal year 2024-2025, compared to 2.4% over the same period of the previous fiscal year. Fiscal consolidation has also led to an improvement in indicators: reduction in the deficit and increase in the primary surplus, thanks to better control of the gap between government expenditure and revenue. The latter come mainly from a sharp increase in tax revenues.

According to figures announced by the Minister of Finance, Ahmed Kouchouk, during a press conference presenting the results of the budget 2024-2025, tax revenue grew by 35% in one year. The minister attributed this increase to the cooperation of the business community, which welcomed tax relief measures, without new taxes need to be imposed.

“The increase in revenue is due to the response from business circles to tax breaks and payment facilities. Taxpayers cooperated voluntarily: 402,000 resolved their disputes fiscal, 107,000 adhered to the simplified system and 650,000 new tax returns were filed, adding 78 billion L.E. to recipes. This encourages us to offer more facilities to taxpayers. ” said Kouchouk, announcing that a new package of tax breaks will be launched soon.