Latest in Tag: ministry of finance Highlight
Latest in Tag: ministry of finance
Ministry of Finance implements minimum wage for teachers
Ministry denies allegations that teachers will not benefit from the new minimum wage system
IMF delegation to visit Egypt in January
The delegation will resume talks about Value Added Tax draft law
Minister of Finance allots additional fund for different sectors
EGP 165m will be allocated for tourism, EGP 225m for petroleum, EGP 125m for industrial training, EGP 355m for improving railway crossings and EGP 11.5m for journalism
Ministry of Finance defines strategic goals for 2014/2015 general budget
Government says it seeks to achieve social justice and economic development through a transparent and publicly disclosed budget
Discrepancy between tax revenue and cash in CBE is normal: Tax Authority
Tax Authority announced that it has collected EGP 80.3bn, while the tax revenue in the CBE is EGP 49.81bn.
Finance minister discusses current economic situation and challenges for next government
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
Ministry of Finance denies mixing pensions and state budget
Ministry asserts it did not embezzle or waste EGP 400bn from the insurance fund
Ministry of Finance denies rehiring Boutros Ghaly’s advisers
Ministry says it “adheres to the standards of competence and integrity and avoids conflicts of interest”
Bank provisions to be exempt from taxes: Ministry of Finance
Ministry says it has received cabinet approval for draft law, now awaiting presidential ratification
Budget deficit ratio stabilises at 2.9% of GDP, domestic debt surges to 73.5% of GDP: MOF
Ministry of Finance says GDP grew by 2.1% to EGP 1608.6bn during the past fiscal year
Ministry of Finance rates Egyptian banks
The ministry releases statement listing top five Egyptian banks that trade treasury bills and bonds
Nearly 5 million workers will benefit from minimum income: Ministry of Finance
Ministry said it is taking “executive measures” to apply minimum income
Economic stimulus package will not affect inflation or price controls: Finance minister
Galal stated that the government aims to lower the deficit from 14% in the last fiscal year to only 10% during the current year, which he called the most important cause of rising prices.
Ministry of Finance begins implementation of income tax amendments
The government relinquished these funds for the benefit of citizens, and it is expected that the largest part of this amount will go towards local consumption and increase demand.
Finance Minister discusses cooperation with UAE
Galal discussed with UAE Secretary of State cooperation in the fields of energy, health insurance and public debt management
Government records EGP 240bn budget deficit in last fiscal year
59% of increases for government expenditures are for subsidies and debt settlements
IMF committed to aiding Egypt
No official statement on whether or not negotiations were reinitiated after post 3 July hiatus
Finance ministry denies claims of leniency for traffickers
Ministry will not forgive accused traffickers of weapons, drugs and artifacts
Inflation rates continue climb in August
Increases in inflation rates from January to August 2013 totaled 9.4% compared to the same period during the previous year.
Egyptian government unifying citizens’ database
Six Egyptian ministries are cooperating in a project to integrate and unify the citizens’ database information to develop the subsidies programme and ensure its arrival for those deserving
Finance ministry to assess economic damage due to violence
Recent security unrest has resulted in the destruction of several state properties across Egypt
Reshuffling of ministers’ officials: The political/apolitical debate
Political turmoil led to short-lived cabinets, uncompleted economic strategies and unqualified officials
Finance minister: Laws and regulations governing Islamic Bonds set to continue
Galal said the subject has so far received more attention than necessary and he sought to address the issue in an appropriate manner.
Smart card project will help fight smuggling: Galal
Minister of Finance presents strategy to automate fuel distribution amid shortages
Inflation climbs to 10.3 % in July
Annual inflation increases to 10.28% in July compared to 9.75% in June
Finance minister promises no new taxes
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
IMF waiting for the “right time” for loan negotiations
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
Finance ministry discharges Brotherhood advisers
Minister dismisses 15 advisors for having connection with Muslim Brotherhood
Costs of future government borrowing bogged down by uncertainty
Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.
High prices cripple the construction sector
Rising cost of materials and devaluing currency important factors affecting the industry