Egypt approves first taxpayer-funded bonds to offset future tax liabilities

President Abdel Fattah El-Sisi has authorized the issuance of tax bonds to help alleviate Egypt's future tax liabilities and lower debt servicing costs. The announcement was made during a meeting between the president and the Minister of Finance, who reviewed the country's financial performance for the 2025/2026 fiscal year. During the year, Egypt's real growth rate was recorded at 5.2%, with improvements noted across various economic indicators such as reduced external debt, an expanded tax base, increased non-tax revenues, and enhanced financial market performance.

The president's spokesperson revealed that Ahmed Kouchouk presented a second set of tax incentives following presidential approval. These incentives are designed to stimulate economic growth, streamline procedures, decrease burdens, and bolster Egypt's economic competitiveness. The business sector welcomed the initiative, resulting in higher tax revenues for the previous fiscal year.

President El-Sisi emphasized the importance of continually refining the tax system and enhancing services, and announced plans for a third package of tax incentives. The meeting also discussed new measures to promote the use of solar energy in the industrial sector and finance the conversion of solid waste into alternative fuels.

These initiatives aim to reduce costs and benefit all stakeholders. Additionally, the president instructed the formation of a state committee to evaluate the use of coastal tourism land and prevent construction within 200 meters of the shoreline without proper approval. He also directed the formation of a committee to oversee real estate projects across all governorates, ensuring timely delivery of units and contract adherence. Violators will be held accountable, and regular progress reports will be provided to the president.