Latest in Tag: Hany Kadry Dimian Highlight
Latest in Tag: Hany Kadry Dimian
Egypt takes actions to trim budget deficit
Government is seeking loans, private sector investments, and to increase tax base to address budget gap
2.5m salary payment cards issued to government employees: Finance ministry
Government, economic and service bodies are to use electronic payment system: Dimian
Egypt to introduce sukuk, revisit international capital market soon: Finance Minister
Parliamentary elections will be another milestone towards economic reform, says Hany Kadry Dimian
Mid-term deficit revision expected during Q1 of FY 2016/2017: Dimian
Average spending of top 10% tranche to increase by 5.3%, while lowest 10% will increase by 0.05%
Taxes on commercial, industrial activities to significantly increase under VAT
Tax will rise from EGP 54,000 to EGP 500,000 for industrial activities, while commercial actives will generate a tax rise from EGP 150,000 to 500,000
EGP 2.8bn in urgent funds to improve public services: Finance ministry
Ministry of Finance dedicates EGP 74.1m for operation of non-economic railway lines and student subscriptions, says Abdel Fattah
Ministry of Finance, public banks in new disagreement
Ministry demands government banks reduce volume of retained earnings, banks believe they are necessary to support capital base
Ministry of Finance, public banks in new disagreement
Ministry demands government banks reduce volume of retained earnings, banks believe they are necessary to support capital base
Civil Service Law to increase state employees’ wages by 15%: Finance Minister
No one will be harmed by application of the civil service law, says Dimian
Off the books – Egypt’s hidden $9.4bn
Daily News Egypt speaks with the journalists behind an investigation that claims to have documented officials siphoning vast sums of public money to top-up salaries and maintain networks of political allegiances
Egypt’s dollar bonds attract more than 290 investors from foreign markets: Dimian
Distribution of 45% of bonds in USA, 35% in UK, 11% in Europe, 7% in Middle East and 2% to the rest of the world
EGP 44bn tax revenue increase by end of April
Budget deficit increased to EGP 230.9bn from July 2014 to April 2015 representing 9.9% of the GDP
Financial policies most powerful tools to enhance Egyptians’ lives: Finance minister
The government has a clear plan to implement the 22% tax upon new tax returns, says Hany Kadry Dimian
EGP 4.5bn allocated to improve public services: Minister of Finance
Several ministries and governorates gain monetary allocations
Finance minister amends executive income tax regulation
Amendments entail imposing tax on dividends achieved by an individual whose transactions do not exceed EGP 5bn during tax period
Egypt’s finance ministry in quest to amend outdated customs law
Dimian said the current law clashes with articles of the Kyoto Protocol, which aimed to facilitate customs procedures.
Egypt implements sustainable growth policies through investment law reforms: PM
Investment, tax laws issued in  last few days, which increase country’s attractiveness to foreign capital
Government limits collection of value of commodities, services to EGP: Cabinet
Prohibition does not apply to tourists in Egypt, said Cabinet spokesperson
60 local, international entities to review new investment law: Minister
Current draft not final, may be subject to revision based on ongoing consultations with business community, Ashraf says
SMEs priority for finance ministry
Dimian revealed a study conducted by the government to set out a system of integrated incentives to bring about a “renaissance” for SMEs in coordination with the Ministry of Trade, the Social Fund for Development, and the Central Bank of Egypt.
Collection of $1.5bn in bonds expected by April
Government finalising document to issue tender in order to decide which company will manage issuance
Egypt to issue bonds on international markets after higher credit ranking: Cabinet
Lowering dues of foreign oil companies, amending investment laws and resolving conflicts boost business sector’s trust
Al-Sisi obliges financial services, public sector to pay income tax electronically
Finance minister said amendment helps managing public debt as it improves flow of tax revenues to the CBE
IDB allocates $220m for Egypt-Saudi electricity interconnection project
Islamic Development Bank announces $566m financing for projects in energy, roads, petrochemicals, water, education, and health
Social financial allocations to be regularly paid for better services: Finance minister
Railway dues will also be reviewed monthly to fund purchase of spare parts, regular maintenance
Regulations for real estate tax law amendments forwarded to State Council
Coordination with the ministries of petroleum, tourism, aviation, transport, and investment to standardise evaluation of real estate assets
Growth rate rises with 6.8% in first quarter alongside IMF visit
El-Araby expects positive IMF report mid-January following recent package of economic reforms
Major payment issues hinder real estate taxation: Finance minister
World Bank grants $200m to develop health issues, while energy efficiency increases through investments
Encouraging signs for Egypt’s economy
By Oxford Business Group After years of uncertainty and turbulence, Egypt’s economy is beginning to show some signs of recovery, with a marked rise in business confidence helping to strengthen indicators in both capital markets and the broader economy. Emerging signs of growth are welcome not only for investors, but also for the government, following …
Government postpones Economic Summit to avoid Chinese New Year
Dispute surrounding Kuwaiti grant valuing $1bn, Ministry of Finance confirms its arrival, International Cooperation denies