Latest in Tag: minister of finance Highlight
Latest in Tag: minister of finance
Finance Ministry provides EGP 4.5bn urgent allocations for supply, railways, health insurance
$67.9m guarantee issued to purchase 295,000 tonnes of imported wheat
Egyptian government to accelerate implementation of public offerings programme: finance minister
Authorities determined to carry forward implementation of economic reforms
Customs dollar set at EGP 16 in August: finance minister
Capital Economics expects customs dollar to rise to EGP 19 by year end, EGP 20 by 2020, amid cautious market
EGP 324.4 spending on subsidy in FY 2017/2018
The spending on subsidy in state budget reached  EGP 324.4 in fiscal year (FY) 2017/2018 compared to EGP 276.7bn in FY 2016/2017, of which EGP 81bn for ration goods and bread subsidy, according to Minister of Finance Mohamed Maiet. Maiet said that the government’s subsidy program for food commodities witnessed the largest increase in allocations …
EGP 157bn increase in tax revenues in FY 2017/2018: Finance Minister
Decrease in budget deficit to reach 9.8% in FY2017/2018 compared to 10.9% in FY 2016/2017
Minister of finance sets the price of tobacco products
Foreign tobacco companies are reportedly dissatisfied with tax
Stability in customs dollar value at EGP 16: finance ministerÂ
Minister of Finance Mohamed Moeit announced that the price of the customs dollar will continue to be fixed at the current rate of EGP 16 starting from 1 July 2018 and lasting for a month. The customs dollar is used to calculate the value of the fees paid by the importer in local currency for …
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
Minister of finance agrees to drop EGP 2.1m income tax owed by 150 clients
Minister of Finance Amr El-Garhy approved the decisions of the Egyptian Tax Authority’s higher committee for tax remission to drop 150 financiers’ dues of EGP 2.117m, according to a statement from the Ministry of Finance on Wednesday. The minister said that these decisions come in order to ease the burden of financiers and establish bridges …
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 …
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
Aim to raise EGX market capitalisation to 60% of GDP in 5 years: minister of finance
8 oil, industry, petrochemical, banks public companies will be IPO-ed in 18 months
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
We aim to reduce the budget deficit to 4% by 2022: Finance Minister
Foreign exchange shortage has ended for every, said Amr El Garhy
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
Major European investment funds to inject cash in Egypt as economy recovers
Minster of Finance Amr El-Garhy meets with investors to discuss further opportunities
Automotive Dealers Association demands clarification about development, insurance fees
The Egyptian Automotive Dealers Association presented a memorandum to Minister of Finance Amr Al-Garhi demanding more clarification about the mechanism of collecting development fees on imported and locally-assembled cars and the tax treatment standards of car warranty. It came after the development fees on cars and auto components have increased significantly in the last period, …
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 cannot continue with the current deficit and debt rates, and we are working to reduce them, states the Finance Minister
We aim to reduce the deficit to 9%, unemployment to 11.5%, increase growth to 4.6%, says El-Garhy
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 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
EU offers financial, technical support to Egypt in all fields
Government reforms have contributed to improving the Egyptian economy, EU says