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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
Finance ministry to add computers, soap noodles to discounted customs exchange rate list
In December, Egypt announced ending discounted customs’ exchange rate for some imported goods
Non-essential imports items to be revised on monthly basis: Moeit
Budget deficit to be under 5% of GDP by FY 2020/21
We aim to achieve surplus, reduce overall deficit to 8.4% of GDP: finance minister
Plans to offer five other State-Owned Companies in Q1 2019
No new taxes on real estate’s transactions: Moeit
Egypt has no intention to return to imposing death, inheritance taxes, according to Finance Ministry
90% of Egypt’s economic reform programme completed: Finance Minister
Maeet expects inflation to rise only temporarary as the economy absorbs the shock from the recent hike
Egypt’s debt in both petroleum, electricity sectors amount to over EGP 900bn: El-Garhy
Egypt’s Finance Minister Amr El-Garhy, said that the debt in both the petroleum and electricity sectors in the country have exceeded EGP 900bn, during a press conference on the sidelines of a weekly cabinet meeting on Wednesday. El-Garhy said that this situation cannot continue, especially with the challenging news that face the world, including the …
Egypt will await greater market stability before eurobond issue: El-Garhy
Egypt will wait for further stability in the global financial markets before deciding on a eurobond issue, Egyptian Finance Minister Amr El-Garhy said at the third Annual Arab Fiscal Forum in Dubai on Saturday. “We want to find the right time and we hope to do this in the next few days,” El-Garhy told Reuters. …
Egypt to offer shares in up to 10 government companies in next 18 months: finance minister
Government paid $200m of arrears owed to IOCs in January, $550m to follow in February, March
H1 FY 2017/18 primary deficit lowest in a decade: El-Garhy
Supply goods subsidies increased by 65% to account for EGP 23.3bn
Egypt’s annual inflation falls to 22.3%, its lowest level since November 2016
Inflation to fall below 20% in January and to decrease to 10-12% in 2018, says El-Garhy
HSBC, JP Morgan, Morgan Stanley, Citibank, NBAD to arrange Egypt’s next eurobond issuance
Five international banks were chosen to arrange Egypt’s dollar-denominated eurobond issuance on 5 January 2018. The institutions are HSBC, JP Morgan, Morgan Stanley, Citibank and the National Bank of Abu Dhabi (NBAD), Finance Minister Amr El-Garhy announced on Thursday. El-Garhy said the $4bn eurobond issuance will be at the end of January 2018, which is …
Finance minister meets with $280bn investment fund leaders to discuss further opportunities
Finance Minister Amr El-Garhy is scheduled to meet on Thursday with leading investment fund leaders with total assets under management of $280bn discuss with them further opportunities, according to a press release. El-Garhy, who is in Washington, D.C, will attend annual meetings of the IMF and the World Bank and will discuss Egypt’s latest macroeconomic developments …
Egypt to tap debt market again as investor confidence grows, says Finance Minister
Egypt finance minister Amr El Garhy said that the intention to tap debt market again is based on the growing confidence of investors in Egypt economy. El Garhy who was speaking on the sideline of Euro Money Conference kicked on Tuesday in the Egyptian capital Cairo. When the finance minister was asked about the funding …
In Video: With black market gone, Egyptian pound stable: Finance Minister
Foreign investment in Egypt’s debt likely to hit $20bn in FY 2017/18: Finance Minister
El-Garhy expects headline inflation to hover around 15% by the end of next June
Egypt funding gap to hit $12-14bn in current and next fiscal year: Finance Minister
The government considers all options to bridge the gap
IMF approves second tranche of $12bn loan, $1.25bn to be transferred within days finance minister
The executive board of the International Monetary Fund (IMF) has approved the disbursement of the second tranche of the $12bn loan and $1.25bn will be transferred within days, according to Finance Minister Amr El Garhy. El Garhy added that he is currently coordinating with the IMF to transfer the funds to the accounts of the …
Government allocates EGP 75bn social security package to protect lower-income groups: El-Garhy
The package benefits owners of salaries, pensions, beneficiaries of Takaful and Karama, holders of ration cards
El-Garhy to consult with Standard & Poor’s, Moody’s in Washington next week
Minister participates in IMF and World Bank meetings, meets major investment banks to review Egypt’s economic reforms
IMF delegation to review Egypt starting April 28: El-Garhy
IMF to complete their review of the programme in June this year, before releasing the 2nd tranche
Flotation, reduced subsidies increase growth to 6% in 2018: Finance Minister
Egypt’s debt tripled in recent years due to the problems experienced during the last 40 years, says Al-Garhy
Egypt raised $4bn from bond issuance with very strong demand: Finance Minister
Order books for the bonds exceeded $13.5bn; Egypt to receive amount by early February
25 committees start resolving tax disputes in the current week: finance minister
160,000 tax dispute cases will benefit from the privileges of tax dispute resolution law, says deputy minister
Government able to achieve targeted budget deficit: El-Garhy
We have not studied cancelling the tax on treasury bills and bonds yet, but all ideas will be discussed.
Negotiations with IMF are fruitful, first portion to be provided before year’s end: Finance Minister
VAT in FY 2016/2017 will render the state EGP 20bn and EGP 32bn in FY 2017/2018
Parliament agrees with Finance Minister to pass VAT in exchange for imposing another tax
Elswedy is negotiating with the Industry Ministry to expedite allocating lands for free as well as their usufruct right
General Authority for Government Services achieves EGP 650m in auction earnings: authority head
37,000 feddans were recovered by the State Land Recovery Committee
57% of Egypt’s companies are isolated from banks’ finance: EIB chief economist
Despite the progress accomplished by the government, effort is still needed to facilitate more investors and the private sector, says minister
Amendments to bidding laws aim to reduce government expenses: finance minister
The recent amendments aim to curb government spending and promote economic development, says El-Garhy