Latest in Tag: Amr El-Garhy Highlight
Latest in Tag: Amr El-Garhy
Egypt’s debt in both petroleum, electricity sectors amount to over EGP 900bn: El-Garhy
Egypt’s Finance Minister Amr El-Garhy, said that the debt in both the petroleum and electricity sectors in the country have exceeded EGP 900bn, during a press conference on the sidelines of a weekly cabinet meeting on Wednesday. El-Garhy said that this situation cannot continue, especially with the challenging news that face the world, including the …
Government allocates EGP 60bn to increase its employees’ pensions, salaries
Additional EGP 4bn approved to increase employee salaries after parliament’s request
Finance Ministry provides EGP 4.6bn urgent allocations for supply, railways, health insurance
Minister of Finance Amr El-Garhy approved EGP 4.6bn in urgent allocations for May to the General Authority for Supply Commodities (GASC), Egyptian National Railways, the General Authority for Health Insurance, and the National Media Authority. The allocations included EGP 4bn for the GASC, which is the value of the financial support for the goods bought …
EGP 7bn initial surplus in 10M current FY: El-Garhy
Government aims to achieve initial surplus of 2% of GDP, reduce budget deficit to 8.5% of GDP next FY, finance minister says
S&P’s upgrade of credit rating confirms Egypt is on right path: El-Garhy
Minister of Finance Amr El-Garhy welcomed the Friday decision of Standard & Poor’s (S&P) to raise Egypt’s credit rating to B from B-, stressing that this step confirms that the state is on the right path and asserts confidence in the Egyptian economic reform programme. El-Garhy added that the decision will contribute to attracting more …
Egypt targets 4% deficit by 2022: El-Garhy
Egypt’s Minister of Finance Amr El-Garhy said that his ministry aims to reduce the budget deficit to 4% by 2022, while continuing the economic reform programme, according to state-owned Middle East News Agency. El-Garhy’s statement came on the sidelines of the launch event of the “system of tax returns, discount, and collection, with the activation …
Deutsche Bank, BNP Paribas, Intesa Sanpaolo, Standard Chartered to arrange issuance of eurobonds this FY: El-GarhyÂ
Minister of Finance Amr El-Garhy announced, in a press statement on Monday, that four European banks were selected to promote and arrange the issuance of euro-dominated bonds this fiscal year (FY), adding that these banks are Deutsche Bank, BNP Paribas, Intesa Sanpaolo, and Standard Chartered. These banks are to issue euro-denominated bonds worth between €1bn …
Egypt to select banks to arrange issuance of eurobonds in 2 weeks
Minister of Finance Amr El-Garhy announced that Egypt will select the banks that will handle and manage the issuance of euro-denominated bonds within a period of two weeks, according to Reuters. El-Garhy said that Egypt expects issuing bonds between €1bn and €1.5bn in April, announcing that Egypt will start launching a promotional tour in several …
Egypt will await greater market stability before eurobond issue: El-Garhy
Egypt will wait for further stability in the global financial markets before deciding on a eurobond issue, Egyptian Finance Minister Amr El-Garhy said at the third Annual Arab Fiscal Forum in Dubai on Saturday. “We want to find the right time and we hope to do this in the next few days,” El-Garhy told Reuters. …
IMF’s demand of economic authorities to limit borrowing means accelerating privatisation: MPÂ
EGPC leads list of borrowers with guarantees from public treasury, accounting for 47.61% of loans
5,420 customs evasions filed in November, December 2017 worth about EGP 578mÂ
Customs duties, evasion fines amounted to EGP 775.7m, of which only EGP 81.3m was collected
Egypt to offer shares in up to 10 government companies in next 18 months: finance minister
Government paid $200m of arrears owed to IOCs in January, $550m to follow in February, March
H1 FY 2017/18 primary deficit lowest in a decade: El-Garhy
Supply goods subsidies increased by 65% to account for EGP 23.3bn
Egypt’s annual inflation falls to 22.3%, its lowest level since November 2016
Inflation to fall below 20% in January and to decrease to 10-12% in 2018, says El-Garhy
HSBC, JP Morgan, Morgan Stanley, Citibank, NBAD to arrange Egypt’s next eurobond issuance
Five international banks were chosen to arrange Egypt’s dollar-denominated eurobond issuance on 5 January 2018. The institutions are HSBC, JP Morgan, Morgan Stanley, Citibank and the National Bank of Abu Dhabi (NBAD), Finance Minister Amr El-Garhy announced on Thursday. El-Garhy said the $4bn eurobond issuance will be at the end of January 2018, which is …
Egypt achieves great improvement in economic conditions: El-Garhy
Egypt’s growth rate increases to 4.8% in Q4 of the current fiscal year, says finance minister
The government is working to increase growth rates to reduce poverty
We are working to achieve economic growth of not less than 5% during the current fiscal year: El Garhy
It is not true that the IMF demanded imposition of incremental taxes: Finance Minister
There is a plan to reduce debt from GDP
We aim to reduce the budget deficit to 4% by 2022: Finance Minister
Foreign exchange shortage has ended for every, said Amr El Garhy
Finance minister meets with $280bn investment fund leaders to discuss further opportunities
Finance Minister Amr El-Garhy is scheduled to meet  on Thursday with leading investment fund leaders with total assets under management of $280bn discuss with them further opportunities, according to a press release. El-Garhy, who is in Washington, D.C, will attend annual meetings of the IMF and the World Bank and will discuss Egypt’s latest macroeconomic developments …
Dollar bonds to be issued January-February 2018, IMF delegation to visit Egypt in late October
31.8% growth in tax revenues by end of June 2017: Finance Minister
Foreign trade delegations continue to explore investment opportunities in Egypt
French ambassador praises the Egyptian economic reform programme
Egypt to tap debt market again as investor confidence grows, says Finance Minister            Â
Egypt finance minister Amr El Garhy said that the intention to tap debt market again is based on the growing confidence of investors in Egypt economy. El Garhy who was speaking on the sideline of Euro Money Conference kicked on Tuesday in the Egyptian capital Cairo. When the finance minister was asked about the funding …
Depreciation of customs dollar to EGP 16.25 after four month of stabilisation
Four months of stabilisation in the value of customs dollar at EGP 16.5 due to the stability of the dollar price in banks
We prepare draft laws to implement the new social security package: El-Garhy
Total cost of the package amounts to EGP 46bn, with no impact on budget deficit, says Moeit
Egypt to receive 2nd tranche of IMF loan by June: El-Garhy
Egypt to issue international treasury bonds by end of May or beginning of June, says Minister of Finance
Investors welcome economic reforms in Egypt: CI Capital
CI Capital arranged one-on-one investor meetings for the Egyptian Finance Minister Amr El-Garhy in London on 26 April. Several meetings were held and attended by El-Garhy, alongside global fund managers who manage assets totalling $3.7tn. CI Capital stated that the positive outlook of investors on Egypt was strengthened by the economic reforms currently undertaken, illustrating the …
Egypt not expected to issue dollar bonds before 2018: BNP Paribas
Minister of Finance told CBC on Saturday that Egypt is considering launching bonds worth $1.5-$2bn within weeks
El-Garhy to consult with Standard & Poor’s, Moody’s in Washington next week
Minister participates in IMF and World Bank meetings, meets major investment banks to review Egypt’s economic reforms
EU offers financial, technical support to Egypt in all fields
Government reforms have contributed to improving the Egyptian economy, EU says