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Review: The president under fire

 Columnists find much to criticise in President Mohamed Morsy during the past period. Much concerns lingering thoughts regarding the Cairo Stadium celebration and its alleged shortcomings, while some are a result of his Muslim Brotherhood affiliation. The bulk of it, however, relates to the 100-day plan and its perceived failures, and what many columnists view …

Daily News Egypt

Real estate tax to be implemented

The Real Estate Tax Authority (RETA) is about to instate the article 196 real estate tax law, four years after it was first issued, according to head of RETA, Tarek Farag. Farag made the announcement during a seminar to the Association of Taxes Experts. “People who are supposed to pay real estate taxes can do …

Hend El-Behary

IMF lifeline, a test for Morsy

For many Egyptians, life was tough under the former regime of President Hosni Mubarak. Now it’s even tougher and things are likely to get worse before they get better

Shahira Amin

Egypt says deficit not to exceed LE 144 bln

By Reuters CAIRO: Egypt’s finance minister denied a report published on Monday that the government had raised its budget deficit forecast for this fiscal year to LE 150 billion. Recent reform measures taken by the government to get the deficit under control had succeeded, in a statement on his ministry’s website. The size of the deficit …


Egypt core inflation 7.3 pct in February

By Reuters CAIRO: Egypt’s core consumer price inflation quickened to 7.3 percent in the 12 months to February from 6.86 percent in January, the central bank said on Sunday. Core inflation strips out subsidized goods and volatile items including fruit and vegetables. The state statistics agency CAPMAS said on Saturday that urban consumer price inflation, …


Egypt’s economy in dire straits, says IMF spokesman

By AFP WASHINGTON: The International Monetary Fund on Thursday described Egypt’s economic situation as dire, sounding the alarm on stagnant growth and a precipitous drop in the country’s foreign reserves. “Egypt’s economic situation remains challenging. Growth has stalled, and this is hurting the Egyptian economy and the Egyptian people,” said spokesman Gerry Rice. Rice also …


Economic stability needed for democratization to succeed in Egypt: US official

By Brett Borkan CAIRO: The United States sees Egypt’s economic recovery as critical in its successful transition towards democracy, and is taking immediate steps to help, according to the US Deputy Secretary of State. Speaking to a group of reporters Wednesday, the US Secretary for Political Affairs William Burns said that the US “will do all …


Analysis: Egypt economy faces rocky road after protests

By Reed Stevenson/Reuters DUBAI: Egypt’s military council faces a daunting challenge to stabilize the economy after 18 days of protests which may cut growth this year in half and have left regulators nervous about the reopening of its capital markets. In the short-run, analysts hope that there will be an orderly transition to democracy and that …


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