Latest in Tag: ministry of finance Highlight
Latest in Tag: ministry of finance
Economists question government’s ability to meet GDP target for FY 2014/2015
Ministry of Finance had raised GDP target by EGP 400bn to EGP 2.4tn to keep deficit ratio at 10%
Finance ministry considers modifying system for cabinet wages: Minister
Ministry of Finance plans to submit bill to amend wage system for cabinet
Tax revenues to increase 1.6% in 2014/2015 fiscal year: Finance minister
Ministry of Finance expects tax revenue increases of EGP 6bn or 1.6% due to amendments to real estate and income tax laws, as well as new taxes on stock dividends and distributions
Backlash against petroleum subsidy cuts as experts cite concern of effects on middle class
Cash support for poor may act as safety net, but biggest danger lies in creating new poor by cutting energy subsidies, says professor of socioeconomics Hania Al-Shalkamy
Weaving company loses EGP 1bn in current fiscal year: Chairman
Holding Company for Spinning and Weaving is comprised of 32 subsidiary companies, including 9 cotton companies and 22 spinning and weaving companies.
Egypt to offer $600m in dollar-denominated treasury bills
Eligible subscribers from local and foreign banks will access t-bill, CBE says
Hotels chamber demands property tax to be based on replacement value
Using replacement value method would reduce property tax for Cairene hotels by 90%, says deputy chairman
EGAS still awaiting $1bn from finance ministry to import gas for electricity: EGAS
EGAS has yet to sign with two oil companies to supply 12 shipments of LNG, due to the lack of necessary funds.
Timing ‘inappropriate’ for subsidies removal: Hotels chamber
Removing diesel subsidies from November onward would pose extra burden on already suffering tourism sector, says deputy chairman of Chambers of Hotels
Finance ministry provides additional EGP 922m for public business sector
Government delayed with presenting next year’s budget, hesitation about pursuing subsidy reform
Government considers raising price of wheat to encourage farmers to step up production
Price increase would aim to encourage local farms selling more wheat to the state in order to make Egypt, the world’s largest wheat importer, less relient on imports
Development of industrial areas expected to miss deadline at end of FY
Industrial Development Authority considering to speak with the ministries of Finance and Planning to extend deadline for completing development of industrial lands
Ministry of Finance launches blog to communicate with the public
The aim of the blog is to communicate with the public regarding the country’s economic situation, the ministry says
Tourism revenues slide 66% in first half of FY 2013/2014
Ministry of Finance says the tourism sector brought in $1.9bn in six months.
Social insurance debt to be repaid by 2021: Finance ministry
Value of social insurance debt between 2011 and 2013 amounted to EGP 162bn, according to finance minister
Budget deficit shrinks by 6% in 8M FY 2013/2014
From July to February, the budget gap marked EGP 123.6bn compared to EGP 146.5bn in the same period in FY 2012/2013
Finance ministry to adopt ‘balanced’ fiscal policy
GPD growth rate will register between 2% and 2.5%, says finance minister
Cabinet amends Property Tax Law
The amendments include establishing a committee in every governorate to survey and evaluate the rental value of properties.
Ministry of Finance to focus on unemployment and energy subsidies issues
Hany Qadry highlights the significance of “restructuring individual incomes” to revitalise the economy
El-Beblawi’s government failed to answer economic challenges: analysts
Economist says low supply of foreign currency responsible for continued market slump
Finance ministry blames political instability and time-consuming projects for ‘modest economic performance’
Public investment projects, settlement of arrears and wage increases will spur economic activity, the Ministry of Finance says
Striking workers not included in the minimum income system: Ministry of Finance
Business sector public companies and authorities “themselves” are responsible for raising the wages of their employees, Mesbah Qotb says
Tax revenues record EGP 125bn
EGP 5bn increase year on year in tax revenues in the period from July to February
Financial aid to poor families will strengthen the social safety net: Finance Minister
Monthly cash stipends will benefit 2 to 3 million families
Budget deficit records EGP 89.4bn in first half of 2013/2014
Total value of revenues reaches EGP 175.4bn and total expenditure registers EGP 262bn, finance ministry says
Government has spent EGP 18bn of first stimulus package: Finance minister
The government’s stimulus package will yield results by the end of Q1 2014, Galal says
Agricultural tax rates to remain the same, actual taxes could increase according to land value: Ministry of Finance
Ministry denies changes were made to the laws or rates of taxes on arable land
General Authority of Government Services auctions generate EGP 99m
December’s auction revenues registered EGP 23.4m
Value of government securities will reach EGP 203bn in Q3: Ministry of Finance
Treasury bonds will comprise of 30% of government holdings in Q3 compared to 20% in Q2
Bank loans to governmental authorities is a secure investment: Experts
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.