Latest in Tag: budget deficit Highlight
Latest in Tag: budget deficit
Egypt’s budget deficit estimated to hit EGP 197.5bn by end of June
Last year, the budget deficit reached EGP 134.996bn.
Egypt ranks low for competiveness
Country slides 13 places in global competiveness survey
IMF: Inflation in Egypt expected to rise by 10.9% this year
The International Monetary Fund also projects the country’s budget deficit to shrink to 8.7% in 2014
Budget deficit reaches EGP 175.9bn over last nine months
Finance Ministry: Deficit now at 10.1% of GDP
Government amendment package to close budget deficit and amend subsidy laws
Half of revenues collected from real estate taxes to be used to improve slums
Government borrows another EGP 13bn
New bidding round for T-bills to counter declining yields
CAPMAS: Egypt exports EGP 15.68bn in goods during January
Rise attributed to increases in export of fresh oranges, crude oil, pastas, rice, ceramic tiles and health products
Budget deficit reaches EGP 197.5bn
Current deficit now amounts to 9.5% of GDP
‘Save Egypt’s Economy’ Conference: Round-up
Economists at the conference offered suggestions regarding closing the widening budget deficit and reforms on taxation and subsidies, as well as recommending the postponement of Egypt’s upcoming parliamentary elections
New Budget to be presented to Shura Council in March
The Ministry of Finance has consulted with a number of government agencies in order to discuss the budget
Central Bank bails out government
CBE invested EGP 48bn in treasury bonds during the last fiscal year
Morsy freezes tax hikes
Government retains the right to demand taxes
Changing the Debt Structure
Ministry of Finance tips the scale towards treasury bonds instead of short-term bills with little or no positive effects
Egypt to sell land to expats, cut budget deficit
By Reuters CAIRO: Egypt will launch a scheme on Saturday to reduce its budget deficit by selling plots of land near Cairo to Egyptians living abroad, the housing minister said on Tuesday, with the aim of raising $15 billion over four years. The deficit has widened since last year’s popular uprising hammered the economy, cut tax …
Egypt says deficit not to exceed LE 144 bln
By Reuters CAIRO: Egypt’s finance minister denied a report published on Monday that the government had raised its budget deficit forecast for this fiscal year to LE 150 billion. Recent reform measures taken by the government to get the deficit under control had succeeded, in a statement on his ministry’s website. The size of the deficit …
Egypt raises budget deficit estimate ahead of loan talks
By Reuters CAIRO: Egypt has raised its budget deficit forecast for this fiscal year by 11.7 percent, the state MENA news agency said on Monday, in a move that may facilitate its efforts to line up an urgently needed international loan. Cairo is struggling to stave off a fiscal crisis following more than a year …
Egypt looking at energy subsidies to cut deficit
By Patrick Werr and Sherine El Madany / Reuters CAIRO: Egypt is pinning its hopes on natural gas to help it reduce energy subsidies that are eating up 20 percent of its state budget and are likely to continue growing if measures aren’t taken soon. For years, the government has resisted cutting subsidies for fear of …