Egypt allocates EGP 5 Billion in new budget to boost small business sector

Minister of Finance, Ahmed Kouchouk, announced that the government has allocated EGP 5 billion in the newly approved state budget, which came into effect on July 1, as the largest economic support package ever dedicated to micro, small, and medium enterprises (MSMEs).

This initiative aims to offer affordable financing solutions for young entrepreneurs, with a particular focus on priority sectors that drive production and innovation.

Kouchouk explained that this move represents a significant push to empower the private sector and productive industries, reinforcing Egypt’s partnership with the Micro, Small, and Medium Enterprise Development Agency (MSMEDA).

The initiative marks a new chapter of meaningful cooperation between the Ministry of Finance and the agency, focused on achieving financial sustainability for MSMEDA while contributing to national economic growth.

Kouchouk and Basil Rahmi, CEO of MSMEDA, witnessed the signing of a new cooperation protocol designed to strengthen the government’s commitment to private sector development.