Latest in Tag: ministry of finance Highlight
Latest in Tag: ministry of finance
Investors welcome economic reforms in Egypt: CI Capital
CI Capital arranged one-on-one investor meetings for the Egyptian Finance Minister Amr El-Garhy in London on 26 April. Several meetings were held and attended by El-Garhy, alongside global fund managers who manage assets totalling $3.7tn. CI Capital stated that the positive outlook of investors on Egypt was strengthened by the economic reforms currently undertaken, illustrating the …
Government has to ease reliance on banks: source
The reliance leads to a vicious cycle, “amid low state revenues,” says banker
Ministry of Finance resolved 450 tax disputes worth EGP 1.5bn
Forming committees to resolve disputes at the headquarters of FEI, FEDCOC, and Federation of Egyptian Banks
EGP 1bn expected income of stamp tax: Ministry of Finance
The tax is to be submitted within the current week to the cabinet for approval
Finance Ministry proposes stamp tax on EGX transactions
Tax starts at 1.25‰ in the first year and will reach 1.75‰ in the third year
International bonds raised Egypt balances to $11.5bn by end of January 2017: Ministry of Finance
Bond maturities range between 1 to 30 years, and to be due from June 2017 until January 2047
Government borrows EGP 1.121tn through bills, bonds during 2016
Ministry of Finance intends to borrow EGP 299.019bn from banks in Q1 FY2017
Fiscal policies in 2016 focused on 9 pillars: Minister of Finance
Most prominent economic reform is Ministry of Finance’s participation in negotiations with the IMF
Ministry of Finance to close budgetary accounts of 179 units of measure
Accounts to be transferred to the single treasury account at the CBE as of 1 December 2016
Finance Ministry approves state guarantee for Toyota alliance’s Suez wind farm
Toyota, Orascom, GD France alliance to sign contracts with Egyptian Electricity Transmission Company in January
Finance Ministry targets to finish 75,000 disputes by applying arbitration law
Sources told Daily News Egypt that 25 tax committees were formed for tax disputes
Ministry of Finance discusses stabilising dollar rate at customs
Companies that rely on imported materials have been struggling under increased production costs
Egypt issues private bonds worth $4bn in Irish Stock Exchange
The aim is to ease pressure on domestic funding sources and reduce the cost of public debt, says minister
Ministry of Finance approves final calculation of 2015/2016 public budget with total deficit of 12.2%
Minister of Finance Amr El-Garhy approved the final calculation of the public budget for the fiscal year (FY) of 2015/2016 with a total deficit of 12.2% or EGP 339.5bn, compared to 11.5% in FY 2014/2015. According to the ministry’s statement on Tuesday, public revenues increased by 5.6% to register EGP 491.5bn owing to a boost in tax revenues, as compared to EGP 465.2bn for …
Outstanding balance of treasury bonds reaches EGP 753bn end of September: Finance Ministry
Bonds worth $3bn will be repaid by 17 December, while other bonds worth $3.5bn are set to be repaid in the period between 1 June 2017 and 29 April 2040
Government plans to borrow EGP 324.5bn in Q2 of FY 2016/2017
Launch of treasury bills tenders for EGP 300.25bn, bonds worth EGP 24.25bn in last three months of year
VAT implemented starting Friday: Finance Ministry
A three-month transition period will be applied to allow companies to adapt to the new tax
Finance Ministry to choose 4 investment banks to offer dollar bonds abroad
Final decisive selection of the list will come today
JP Morgan, BNP Paribas , Citi bank and Natixis to offer Egyptian dollar bonds in international markets
The Ministry of finance has chosen yesterday 4 international investment banks to offer egyptian dollars bonds in international markets
Finance Ministry chooses Dechert to offer US dollar bonds abroad
7 global law firms submitted bids, says government source
7 legal offices compete to provide legal consultations for issuing international bonds
A governmental source said that seven Egyptian legal offices applied to act as local legal advisers for the US dollar bonds through the Ministry of Finance. The source added that the same offices applied for the first tender which offered $1.5bn bonds earlier. The most prominent firms in the previous tender were Helmy and Hamza …
VAT: the lifeline to escape from budget deficit
90% of food commodities are exempt from VAT, says Finance Minister
Egypt to implement new healthcare system in current FY: El-Garhy
AfDB agrees to provide grant to finance actuarial studies for new healthcare system
Ministry of Finance reveals features of proposed customs law reforms
Introduction of a new system to receive information beforehand on all imported goods
Bond yields for 5-year term jump by 0.82%
Ministry of Finance cancels 10-year term bonds initially planned to be issued on Monday due to interest rate increase
House of Representatives asks Ministry of Finance, Holding Company for Spinning and Weaving, and National Investment Bank to sign a tripartite agreement to repay debts
The agreement aims to pay dues and to provide financial liquidity to buy raw materials, says parliamentary official
$400m allocated by Ministry of Finance to support exports
This is the first time such a budget has been allocated from the General Budget, said Minister of Trade and Industry Tarek Qabil, adding that the amount allocated to support exports is EGP 6bn.
Outstanding balance of treasury bonds increased by EGP 10.5bn at end of April
The ministry indicated in a recent report that there are two types of bonds in Egyptian pounds, the first being coupon yield bonds, the balance of which recorded EGP 671.523bn, with an average return rate of 12.868%
Tax Authority collects EGP 200bn since last July, head says
Revenues from taxes are expected to record EGP 422bn in FY 2016\2017, El-Monayer says
Egypt discusses tax reforms in IMF-World Bank meetings
Egyptian delegation agreed with IMF officials to cooperate in studying methods to enforce VAT law