Finance Ministry aims to increase sources of funding

The opening session of the Capital Markets Summit discussed capital gains tax and their impact on the market. The summit tackled the hot topics of the Egyptian capital markets, how the Egyptian Exchange can accommodate the state aspirations by offering large public companies such as the Administrative Capital For Urban Development (ACUD). It also discussed the role of capital markets in financing the state’s general budget projects.

Assistant Finance Minister for Economic Affairs Sherine El-Sharkawy said that the ministry is adopting a strategy of expanding the base of investments in every field. She added that this aims to create sufficient funding sources at the lowest cost to finance state projects and achieve the aspirations of the new republic towards a decent life for citizens.

During her speech at the opening session of the annual Capital Markets Summit, she added that the ministry has been working on increasing the economic growth rate, as well as creating long debt terms to improve and expand options for investors in debt instruments such as local bonds and bills.