These remarks came during an open dialogue the minister held with representatives of the business community during his field visit to Alexandria.
Kouchouk confirmed that all exceptional revenues are directed toward reducing debt, referring to a $3 billion cut in Egypt’s external debt last year.
He also announced plans to increase funding for industry and exports in the upcoming budget.
The government aims for a 3.5% primary surplus this year and is working to streamline payment processes for investors by unifying collection agencies.
Kouchouk reassured business leaders that there will be no new taxes on investors. He added that tax revenues have grown by 38% in the past 10 months and that the private sector remains the main engine for economic growth.