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Egypt’s GDP grows 5.6%, budget deficit registers 8.2% in FY 2018/19
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
EGPC forecasted net profit fell to EGP 21.4bn in FY 2019/20, down 30%
Profit targets were set based on minimum oil, gas production, say sources
Initial surplus in Egypt’s budget EGP 58.2bn in 11 months: Ministry of Finance
Meanwhile, Egypt achieved an initial surplus of only EGP 1.9bn during the period from July 2017 to the end of May 2018.
Misr Insurance Holding Company approves 2019/20 draft budget
Target revenues of EGP 20.4bn, up by 21.5%, net profit at EGP 4.3bn, up by 34.5%, estimated investments of EGP 70.7bn, up by 8%
Parliament approves Egypt’s largest-ever budget of EGP 1.6tn for FY20
EGP 326.8bn for health and education, EGP 301bn for wages, EGP 149bn for food and commodities subsidies
Egypt’s budget deficit drops to 5.6% in 10M of FY 2018/19
According to the financial report, the overall deficit declined as a result of the higher growth rate in revenues than the growth rate of expenditures
Government plans to offer treasury T-Bonds, T-Bills worth EGP 146.5bn in June
Finance Ministry borrowed about EGP 184bn in T-Bills, T-bonds in April, about EGP 148bn in May
Tarek Shawky urges ministry of finance to increase education reform’s budget
We only received EGP 99bn, despite requesting EGP 138 bn, said Shawky
Initial budget surplus of EGP 35.5bn in 9M of current FY: Egypt’s Finance Minister
Planned increase in stock exchange duty cancelled, stamp duty stays at EGP 1.5
Neeasae’s budget records EGP 230m for FY 2019/20
Company owes EGP 90m to NIB
Egypt’s high interest rates exert pressure on budget: WBG
Social conditions remain difficult, inflation eroded real income, says report
Egypt targets 7.2% deficit, 6% GDP growth, 6.163tn total GDP in FY 2019/20
New draft budget sets price of Brent crude at $70 per barrel, up from $67 per barrel in current FY
Government plans to borrow EGP 478.5bn to fill budget deficit
Finance Ministry launches bids for T-Bills, T-Bonds for EGP 184bn in April, EGP 148bn in May, EGP 146.5bn in June
Egypt targets budget deficit of 7.2%, GDP growth of 6.1% in FY 2020: Finance Minister
The Egyptian government targets a budget deficit of 7.2% and a GDP growth of 6.1% in fiscal year (FY) 2019/20, the Minister of Finance, Mohamed Moeit, said on Tuesday during an industry conference. During the conference organised by the Egyptian Center for Economic Studies, Moeit added that as the FY nears its end (June), there …
EGP 21bn primary surplus, total deficit reduced to 3.6% of budget in H1 FY 2018/19: Moeit
Real estate tax revenues increase by 102%, education, health, public investments expenditure increased by 21%, 27%, 64% consecutively
SCZone budget of EGP 10.4bn for the next FY approved
Revenues from settlements expected to reach EGP 3.4bn in coming years, says Mamish
Goldman Sachs Group Inc, IIF, expect lower oil prices in 2019
Each dollar increase in oil barrels from budget target costs state additional EGP 3 to 4bn to support petroleum products: Finance Minister
Total government debt increased to EGP 4,315bn, budget deficit decreased to 3.1% of GDP
GDP grew by 5.2% during FY 2017/18, compared to 3.6% during last FY
Government intends to borrow EGP 473.75bn in Q1 of 2019 to bridge budget gap
Finance Ministry to float T-bonds, bills worth EGP 181.5bn by January, EGP 146bn by February, EGP 146.25bn by March
Egypt’s overall budget deficit rose to EGP133bn during 4 months ending last October
State’s overall budget deficit down to 2.5% of GDP during period from July to October 2018
Oil price plummeting relieves pressure on Egypt’s budget
Recent geopolitical events have sparked key role in decreased prices
Egypt’s 2019/20 budget targets 6.5% GDP growth, 10.9% inflation
Plan requires increasing investment to about 25%, reducing unemployment gradually to 8%, through providing 900,000 jobs per year: Moeit
UNRWA seeks compensating significant budget gap as largest contributor US pulls out
US move comes amid others pressuring Palestinians to settle for deal with Israel
Beltone foresees an 8.4% GDP overall budget deficit in FY 2018/19
Fuel subsidies to hit EGP 120bn, against government target of EGP 89bn as international oil prices rise
Egypt started implementing largest budget in its history on Sunday
Expenditure volume in 2018/2019 budget estimated at EGP 1.42tn
Parliament finally approves additional credit in this year’s budget worth EGP 70.3bn
Allocations for interests on additional credit estimated at EGP 57bn, other expenses include EGP 2.3bn in compensation for North Sinai residents
Parliament approves EGP 70.3bn additional allocations for current FY budget
The Egyptian Parliament approved on Sunday the draft law submitted by the government for additional allocations worth EGP 70.3bn for the current fiscal year (FY) 2017/2018. The bill stipulates that these additional allocations will be distributed as a EGP 57bn increase in the interest section of the state budget to meet the increase in the …
Parliament’s approval of additional allocations for this FY budget will not raise target deficit: planning and budget committee head
Increasing interest rates this FY raised debt interest dues by EGP 54bn
Parliament approves FY 2018/2019 budget
The Egyptian Parliament approved on Tuesday the fiscal year 2017/2018 general budget with a total expenditure of up to EGP 1.4tn and expected revenues of EGP 938bn. The budget deficit reached 8.4%, while the growth rate stood at 5.8%, driven by new employment opportunities provided by private sector investments, amounting to about 850,000 jobs. MP …
Global economic risks negatively affect draft budget for next year: parliament’s planning committee
US raising short-term interest rate tightens conditions of Egypt’s external financing