Arab Finance: Egypt plans to offer between four and five state-owned companies on the Egyptian Exchange (EGX) before the end of 2026, Prime Minister Mostafa Madbouly said.
He noted that 16 state-owned companies have already been temporarily listed, with four more expected to be listed before June 30th and another 10 petroleum-sector companies entering the temporary listing process as part of the State Ownership Policy.
Speaking during his weekly press conference following the Cabinet meeting at the government headquarters in the New Capital, Madbouly said the government is moving forward with restructuring economic authorities and maximizing the value of state-owned assets while continuing economic reforms and supporting growth.
The prime minister highlighted that the government is also preparing to introduce new tax, customs, and real estate incentives during the coming fiscal year (FY) 2026/2027, following parliamentary approval of related legislation, to attract additional domestic and foreign investment.
During the period from July 2025 to March 2026, Egypt's tax revenues increased by 29%, without imposing additional tax burdens due to stronger economic activity and a broader tax base.
Madbouly said he is following up with relevant ministers on the implementation of the new FY budget, which includes significant increases in spending on key sectors.
Last April, Minister of Finance Ahmed Kouchouk previously said the new budget allocates increased funding to human development sectors, with the health budget rising by 30% and the education budget by 20%. Kouchouk added that EGP 47.5 billion has been allocated for state-funded treatment, health insurance, and medicines, marking a 69% annual increase, alongside EGP 90.5 billion for the Unified Procurement Authority to supply medical equipment and pharmaceuticals.
Aِdditionally, the prime minister said the government continues to implement economic reforms while maintaining policy stability amid regional and global challenges. He noted that sectors such as the Suez Canal experienced temporary impacts from regional developments, but the broader economy has continued to demonstrate resilience.
On state-owned assets, Madbouly said decisions concerning the first group of economic authorities slated for abolition, merger, or conversion will begin this month, with additional phases continuing through the end of the year.
He added that the government is working to improve the utilization of state-owned assets and companies through the State Ownership Policy.
The prime minister also highlighted efforts to strengthen the pharmaceutical sector, describing it as a matter of national security. He said discussions with the Holding Company for Pharmaceuticals focused on improving efficiency, increasing production, expanding market share, and entering the production of biological medicines, oncology treatments, and pharmaceutical raw materials.
In the technology sector, the prime minister said he recently met with the Minister of Communications and Information Technology to review growth targets, monitor outsourcing companies, and discuss plans for attracting new technology investments.
He noted that data centers have become a strategic priority globally and said Egypt is coordinating across the communications, electricity, and renewable energy sectors to support the establishment of new data centers powered by clean energy sources.
Madbouly also highlighted ongoing coordination among the Central Bank of Egypt (CBE) and the ministries of finance, petroleum, and electricity to ensure sufficient energy supplies during the summer months.
He warned that exceptionally high temperatures and elevated global energy prices could create additional pressures this summer. Referring to forecasts linked to the El Niño phenomenon, he said energy demand is expected to increase significantly while oil and gas prices remain high.
He added that the government is closely monitoring renewable energy projects to ensure they enter operation on schedule or ahead of schedule in order to reduce fuel imports and strengthen energy security.
On subsidies, Madbouly said the government is moving closer to implementing a cash subsidy system and intends to begin the transition during the next FY.
He explained that subsidies would be distributed through multiple tiers, with higher levels of support directed to the most vulnerable groups. The government is currently finalizing the framework and plans to hold a dedicated press conference once all details have been completed.
Beyond domestic economic issues, Madbouly reviewed regional developments and Egypt’s diplomatic efforts, including ongoing mediation between the US and Iran. He reaffirmed Egypt’s commitment to regional peace and security and condemned recent attacks targeting Kuwait and Bahrain, describing them as unacceptable and reiterating Egypt’s support for the stability and security of Gulf countries.
