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Some employees are yet to be informed under which system they will receive their February salaries
State expenditures totaled EGP 221.2bn, an increase from the EGP 183.7bn in same period last year
Although government financing needs remain large, Moody’s expects economic reform will help reduce fiscal deficits and government debt
Hiking transport prices reduces budget deficit, Mattar says
Absence of budget transparency directly leads to absence of social justice, says NGO
Despite year-on-year decline, Consumer Price Index (CPI) increased 0.6% in July 2015 compared to preceding month
Estimation of Suez Canal revenues similar to last year, despite completion of new Suez Canal project
Government revision on budget included lower targeted budget deficit, lower spending and higher revenues
Decision will likely lead to matching Fitch’s assumptions on the deficit of reaching 11.1% of GDP by end of this FY instead of the 10.8% targeted by government
Budget deficit expected to decrease to 11.6% of GDP in FY15, in comparison to the 17.5% of GDP recorded in FY14, Fitch noted
Budget deficit increased to EGP 230.9bn from July 2014 to April 2015 representing 9.9% of the GDP
March’s figures compare to June 2014, where debt amounted to $46.1bn
Government was sluggish in launching new investment law, investors were not given enough time to do their homework, says former Finance Minister Samir Radwan
Financial grants recorded EGP 7.8bn in 1H FY 2014/2015 compared to EGP 36.8bn in 1H FY 2013/2014
Qalaa Holding expects to achieve earnings totalling $700m in 2017 due to declining oil prices
NBE-led union collects loan worth $1.5bn to pay portion of the dues of foreign oil companies operating in Egypt
Prices jumped 1% for returns on treasury bills in the hours after central bank raised the interest rates by same amount
EU ambassador to Egypt welcomes reduction of subsidies on petroleum products
Reuters – The Egyptian government sees its budget deficit, if it does not implement reforms, running at 14-14.5% of gross domestic product in the fiscal year starting on July 1, Finance Minister Hany Kadry Dimian said on Sunday, above a target of 10-10.5% he gave in March. Egypt’s economy has suffered from more than three …
From July to February, the budget gap marked EGP 123.6bn compared to EGP 146.5bn in the same period in FY 2012/2013
GPD growth rate will register between 2% and 2.5%, says finance minister
Total value of revenues reaches EGP 175.4bn and total expenditure registers EGP 262bn, finance ministry says
The government’s stimulus package will yield results by the end of Q1 2014, Galal says
EGP 29.6bn package allocates 2.6bn for wages, 6bn for subsidies and 4bn for contractors and railroads
Poverty rates have increased from 20% to 25%.
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
The total revenue of the fiscal year 2013/2014 will reach EGP 505.5bn while the expected that the total expenditure will reach EGP 689.3bn.
Expert: Value of aid is “economically misleading” and unlikely to raise the foreign reserve level
Qatar, meanwhile, had granted Egypt $2.5bn in loan last January, and extended a further $3bn in May by agreeing to buy Egyptian bonds at 3.5% interest.
The research, titled The Illusion Dispelled, was focused on identifying the economic predicaments and policy shortcomings that lead to the national economic crisis.