Latest in Tag: minister of finance Highlight
Latest in Tag: minister of finance
Minister of Finance, Korean Ambassador welcome expansion of Korean companies in Egyptian market
Minister Maait meets with representatives of Korean companies operating in Egypt
We aim to reduce debt-to-GDP ratio to 75% by 2026: Minister of Finance
77% of government debt owed to institutions, individuals in Egypt, foreign debt represents only 23%
Customs amended to stimulate national industry, attract investment: Minister of Finance
Income tax on more than 150 types of production inputs
We are strengthening the state’s financial governance to achieve economic and development goals: Finance Minister
These expenditures target improving the standard of living of citizens and improving the quality of public services by maximising efforts to lay the foundations for financial discipline, raising the efficiency of public spending, and tightening control over disbursement through the government financial information system (GFMIS) and the electronic payment system (GPS).
Egypt joins New Development Bank
It reflects resilience of Egyptian economy: Maait
Egypt ready to transfer tax expertise to Sudan: Minister of Finance
‘We look forward to benefiting from Egyptian experience in developing tax system,’ says Sudan Taxation Chamber chief
Minister of Finance to amend executive regulations of Income Tax Law
Amendments aim to facilitate tax collection procedures
New platform to promote public, private sectors partnership in development
Private sector receives development finance worth $3.2 n in 2020, in addition to $1.9bn in H1 2021
Over 100 companies use Egypt’s e-invoicing system: Minister of Finance
Public agencies, companies will only deal with entities using e-invoicing system, starting from 1 July 2021: Maait
46,000 taxpayers benefit from late fees on taxes waiver: Finance Minister
A total of 29,597 financiers and taxpayers got 100% waiver of late payment and additional taxes, which amounted to EGP 4.9bn
S&P maintains Egypt’s B credit rating with stable outlook
S&P credit rating of Egypt reflects global confidence in Egyptian economy’s stability, says Finance Minister
Egypt to open one-stop-shop at largest port by June 2021: Maait
Maait’s remarks came during an inspection tour, on Sunday, of customs service’s logistics centres at Cairo Airport and in Ain Sokhna.
Egypt to settle 85% of export subsidy arrears early November: Maait
The decision was announced by Mohamed Khamis Shaaban, Secretary-General of the Egyptian Federation of Investors Associations (EFIA), following his meeting with Maait last Wednesday.
90% of Egypt’s external trade management to go online next January
The electronic management will be handled via a nationwide network of logistics centres, some of which have already begun operating in Cairo, West and East Port Said, and Ain Sokhna. Further logistics centres are scheduled to commence operations in Alexandria by the end of this month, Damietta in November, and Dekheila city in January.
Egypt’s economy exceeds expectations during COVID-19: Maait
The performance was outlined in detail in the Financial Monitor and Outlook for the World Economy Report for October 2020, issued last Thursday. The report reflected the positive results of Egypt’s successful experience in economic reform, which remains highly praised by international institutions.
Egypt would have been unable to face COVID-19 without economic reform,: Songwe
Government continues to implement integrated package of structural reforms to strengthen country’s macroeconomic structure, says Egypt’s Finance Minister
Despite COVID-19, Egypt’s budget deficit drops to 7.8% in FY 2019/20
Minister of Finance Mohamed Maait said the country had achieved a primary surplus of 1.8% of GDP during the fiscal year. He added that this was “a very good result amid the exceptional circumstances of the novel coronavirus (COVID-19) pandemic.”
Egypt is only MEA country to maintain credit rating at big 3 agencies: Maait
Fitch Ratings placed Egypt’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B+’ with stable outlook
Egypt pays EGP 6bn in export subsidy arrears for FY 2019/20
Additional EGP 7bn allocated to support Egypt’s exports in FY 2020/21 budget, says Maait
Egypt to launch 3-month presidential consumption stimulation initiative before July end
Ration card holders will receive 10% discount with state treasury to bear EGP 12bn cost, says Maait
Egypt brings forward public sector salaries disbursement in Q1 of FY21
Ministries of health and interior have been given top priority, in appreciation of their roles in combating COVID-19
No new taxes on consumer goods purchased online, in shops: Finance Minister
Maait issues decision to establish unit to follow up on tax collection for T-Bill and bond returns
Pandemic lowers 2019/20 target growth to 4%: Finance Minister
Total of EGP 63bn used to support health sector, groups most affected since pandemic’s beginning
Maait aims to turn Covid-19 plight into power to promote human resource development
Automation of tax and customs systems to be accelerated to stimulate production, says Maait
Initiative launched to support tourism sector meet financial obligations: Finance Minister
Finance Ministry to provide EGP 3bn as guarantee for bank loans to tourist, hotel establishments at 5% annual interest
Government agrees to disburse part of export subsidies to 41 companies
Export Development Fund disburses EGP 2.133bn in export subsidies from January to April
Egypt still able to meet financial obligations despite Covid-19: Moeit
Any potential postponement of financial obligations, however, must be through regional and international movements, and Egypt is willing to support such efforts, Moeit explained.
Government special funds better stay off-budget: Finance Ministry
Economic authorities’ excesses have been resolved, improved governance achieved
Government investments increase by EGP 10bn: Finance Minister
In a statement, Thursday, Maait said that in implementing the directives, an additional EGP 2bn will also be made available between now and June, to pay delayed dues to exporters
Draft 2020-2021 budget sets oil price at $61per barrel
State employees’ wages to increase by 11.3%: Finance Minister