President Sisi to initiate third tax incentive package

The presidential meeting in Egypt focused on reviewing the government's efforts to implement economic and financial reforms, including managing the risks of oil price fluctuations through financial hedging, and developing the real estate tax system, including launching mobile applications to ease usage. Approval was also given for the issuance of tax-backed sukuk (Islamic bonds) to finance the fiscal deficit. The country achieved a real growth rate of 5.2% during the first nine months of the fiscal year, with improvements in financial market performance and a reduction in public debt as a percentage of GDP by 13.2% over the past two years. The President emphasized the importance of adhering to laws regulating the exploitation of tourist lands and real estate projects to ensure citizens' rights, while also supporting efforts to improve the business environment and strengthen Egypt's economic growth.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article