Latest in Highlight
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28,000 government employees payroll cards to be replaced with “Meeza” cards in October: Finance Minister
Second pilot phase aims to issue contactless cards across 10 governorates
Egypt to launch 1st sovereign government green bond issue in MENA: Finance Minister
Maait explained that Egypt has a portfolio of eligible green projects worth $1.9bn, of which 16% are in the field of renewable energy. A further 19% are in clean transportation, 26% in sustainable water and sanitation management, and 39% in pollution reduction and control.
Finance Minister instructs ECA to reduce time limit on selling neglected goods
This would ensure the improved handling of containers left at customs points in Egypt in a manner that prevents their accumulation in ports and warehouses.
Up to 90% customs duty cuts on industrial inputs to boost local manufacturing: Finance Minister
Customs amendments cover some industrial components, mass transit vehicles, and renewable energy, says Mohamed Maait
Egypt targets 16.5% tax-to-GDP ratio within 5 years: Finance Minister
Country’s tax system is witnessing “development revolution” under President Al-Sisi, says Maait
Automation of Egypt customs system proceeds actively: Finance Minister
Electronic system will, for first time, be established to track goods until final release stage, says Mohamed Maait
Latest law on tax delinquency penalty relief offers new incentives: Finance Minister
Incentives help accelerate collection of state’s overdue debts, maximise its ability to provide public services during pandemic, says Maait
Budget deficit at 6.3%, expected to reach 7.5% amid COVID-19: Finance Minister
Constant monitoring of situation needed, particularly for annual budget which was prepared in pre-pandemic period, says Maait
New tax facilities to support economic sectors: Maait
Full exemption of delay fines will be granted to those who pay their overdue taxes before new facilities are issued
Strategic goods get priority customs clearance during pandemic: Finance Minister
Maait orders that customs clearance of some imported goods will be speeded up amid COVID-19 fight
Moody’s confirms Egypt’s B2 rating, outlook stable: Finance Minister
Government economic, monetary and financial reforms have provided solidity and flexibility
Egypt ranks second-highest in Middle East on budget transparency index: Finance Minister
Results illustrate Finance Ministry’s efforts to provide information to citizens, says Maait
Cabinet approves new income tax facilities in response to COVID-19
The new measures allow payment of 2019 income taxes in instalments until 30 June without any charges for delays in payment. Moeit said the instalments will be divided into 20% of the tax due in April, 30% in May, and 50% before the end of June.
Finance Minister discusses anti-coronavirus strategy with African counterparts
Cooperation must be strengthened to face pandemic’s economic repercussions, says Moeit
Diaa Rashwan discuss upgrading of press institution with Prime Minister, Finance Minister
The development plan of national institution focuses on the digitisation of the news service at press institutions, says Gabr
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 …
