Latest in Tag: budget Highlight
Latest in Tag: budget
Budget deficit down to 10%, state budget approved by the president
Total expenditure set at EGP 789bn while revenues expected to reach EGP 549bn
Violence in Iraq costs Egypt EGP 10bn
EGP 10bn increase in fuel subsidies for 2014/2015 budget a result of violence in Iraq: Petroleum ministry official
New budget expected to include additional reductions to energy subsidies
An increase in petroleum prices and a cap on public sector wages expected in new budget which awaits Sisiâs approval
Delay in budget may cause unexpected 30% fuel consumption increase
Petroleum price increase to be announced unexpectedly to avoid black market fuel distribution, says EGPC official
Government may temporarily maintain last yearâs budget due to time constraints: Cabinet source
The government is racing against time to complete the process of reviewing the budget for the next fiscal year, after President Abdel Fattah Al-Sisi refused to ratify it due to the growing deficit and heavy.
Budget under review, hearing to be held Wednesday: PM media adviser
Cabinet to hold weekly meeting Wednesday, Prime Minister to hear ministersâ proposals on budget development
Al-Sisi refuses to approve current draft for state budget, citing debt
President says that assistance from Gulf States was the reason Egypt survived the past 10 months
Government allocates EGP 75.3m to âmodernise industryâ in FY 2014/2015 budget
IMC aims to provide 2,825 services to about 995 companies for the 2014/2015 fiscal year (FY).
Government tasked to apply maximum wage: Mehleb
Upcoming state budget seeks to apply financial and economic reforms
Doctors lodge complaint against health minister
A complaint was filed against Al-Adawi by a board member in the Doctorsâ Syndicate for âincitement against doctorsâ
75% of first stimulus packageâs projects completed: El-Araby
Economic platform outlined by Al-Sisi during presidential campaign will be included in 2014/2015 development plan, says planning minister
Al-Sisi examining 2014/2015 budget: Finance ministry official
Consideration of subsidy increase an âerrorâ and âpolitically out of the question,â in light of potential anger on part of the poor: Experts
Fiscal deficit to remain in double digits, inflation unlikely to rise: CitiBank
Economy remains weak with consumption under pressure and investment affected, the report stated
Reforms will help curb budget deficit: Mehleb
Outgoing Prime Minister Ibrahim Mehleb said the government has presented a âboldâ budget for the coming fiscal year which will overhaul the energy subsidy system
Public finances remain weak, Sisiâs win does not alter ratings: Fitch
âA very high turnout might have enhanced the legitimacy of the return to military rule in domestic and international eyes,â the credit agency says
EIPR sues government for subsidising fuel to factories
Subsidies to factories do not benefit the state or its citizens: EIPR
Reducing energy subsidies is âgoodâ but may raise prices: Egyptian Steel chairman
Investors welcome the move to reduce energy subsidies, but ask government to protect the poor from expected price jumps through social programmes
Government subsidies on basic food commodities do not reach poor: Expert
State budget for subsidised food commodities in FY 2014/2015 is EGP 34.05bn, compared to EGP 33.8bn in FY 2013/2014
Finance minister addresses budget deficit challenges
Minister discusses ways to reduce or maintain budget deficit at 11% during American Chamber of Commerce conference
Civil society organisations call for budget transparency
Finance ministry has failed to meet legal obligations in publishing budget drafts for the state, economic bodies and public sector, joint statement says
EGP 2.38bn to be allocated from budget âto supply necessary goodsâ to citizens: Galal
Oil sector will receive EGP1.106bn, ministry says in an official statement
Kuwait budget surplus drops as spending rises 18%
Kuwaitâs fiscal year runs from 1 April to 31 March.
Obama signs spending bill after rare Washington compromise
Obama signed the massive bill, passed by Congress this week in a rare budget truce, in front of officials from his Office of Management and Budget.
New minimum wage costs and allocations announced
The Ministry of Finance releases a report detailing the costs and distribution of the minimum wage over about 4.83 million workers
Saudi unveils record $228 bn budget for 2014
The kingdom had budgeted for revenues of $221 billion in 2013, and an expenditure of $218.7 billion.
Buoyed by Gulf aid, Egypt current account hits surplus
Reuters – Egypt’s current account recorded a surplus in the first quarter of the financial year, boosted by billions of dollars in aid from Gulf Arab states after the army ousted Islamist President Mohamed Morsi in July. The current account ran a surplus of $757 million between July and September, driven by a massive increase in official transfers, according to …
Egypt current account hits surplus in first quarter
Reuters – Egypt’s current account recorded a surplus of $757 million between July and September, compared with a deficit of $1.26 billion in the same period last year, the central bank said on Thursday. Foreign direct investment in Egypt rose to $1.246 billion in the same period compared with $1.164 billion a year earlier.
Iran President Rouhani targets stagflation in first budget
Analysts say soaring inflation is due to increasingly tough economic sanctions and mismanagement by former president Mahmoud Ahmadinejad.
Euromoney: Trimming the budget deficit, the government’s challenge
Despite the government’s commitment to reduce the budget deficit to nine percent by the end of the current fiscal year, new challenges such as the new minimum income law are emerging.
G20 seeks ‘urgent action’ from US on budget impasse
Meeting in Washington, the officials warned that there were still risks to global economic growth, and that many countries faced “unacceptably high unemployment.”