Latest in Tag: finance ministry Highlight
Latest in Tag: finance ministry
Mapping of most important industrial sector challenges being finalised, Trade Ministry eyes package of government decisions to stimulate Egyptian industry, says Nevine Gamea
The original deadline had been set for January 2021, however, directives were issued to extend the deadline for submission to the end of February 2021.
Total of 16 bids for T-bills worth EGP 142.5bn, 10 bids for bonds worth EGP 57bn
The Canadian fertilizer company Nutrien’s (formerly Agrium) stake in Egypt’s Misr Fertilizer Production Company (MOPCO), estimated at 59.6m shares will be transferred to the Egyptian Ministry of Finance before the end of the year, in settlement of dispute between Agrium and MOPCO’s subsidiary, Egyptian Nitrogen Products Company (ENPC). According to the settlement agreement, Agrium will …
According to the “Challenge and Achievement” report, if it had not been for the economic reform programme, the country would not have succeeded in containing the repercussions of the novel coronavirus (COVID-19) crisis and mitigating the severity of the global shock.
The offering comprises 16 tenders for T-bills worth EGP 158bn, and 10 tenders for bonds worth EGP 38.5bn.
This is due to the commensurate great importance it attaches to improving public services in various governorates, and meeting the needs of citizens.
Proceeds of green bonds will be used to finance expenditures related to environmentally friendly projects
Maait also reviewed a report on the performance of the e-payment and collection system for government dues since its launch in May 2019.
First tranche of subsidy arrears worth EGP 400m to be paid to export companies next month
Ministry has made great strides in digital transformation, says Maait
The law, which also outlines executive regulations regarding these contracts, stipulates that contractors should receive their financial dues in under 30 days from the date of examination, acceptance, and approval.
Move is to fill chronic budget deficit during Q1 of FY 2020/21
Amendments will also see improved tax brackets and across the board tax savings for all social segments
According to a ministry statement on Wednesday, the decision comes as part of amendments to some provisions of the executive regulations under the Income Tax Law.
Total of EGP 5.2bn provided to exporting companies from July 2019 to May 2020
Customs Authority will grant “certified economic operator” label to those it deals with, says ministry statement
20 T-Bill offerings worth EGP 203bn will be issued, along with 10 bond offerings worth EGP 34bn
Ministry looks to diversity funding sources to reduce cost of borrowing
EgyptAir and subsidiaries greatly impacted by halt in global air traffic, with revenues grinding to complete halt
In a statement on Thursday, Maait said the emergency support will help the government finance those sectors that have been most impacted, including the health sector, and enhance social protection programmes.
Government plans to offer EGP 610bn worth debt instruments in 4Q FY2020
EGP 4bn directed to meet basic food commodities needs, EGP 15bn to buy wheat from local farmers
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
MSMEDA given five years, administrative detention stopped
Interest rates to slightly decrease by end of FY2019/20, says report
The allocations for General Authority for Supply Commodities includes $970.2m letters of credit to import 4.158 tonnes of wheat.
Cabinet agrees to issue $500m green bonds, $5bn international bonds in FY 2019/20, says Kouchouk
This aims to ensure the sustainability of the quality of performance, speed, and accuracy of delivery in a manner that reduces the customs release time and costs of clearance. It also targets improving Egypt’s ranking in the World Bank’s “Logistics Performance Index” which will coincide with better facilitating cross-border trade.
Interest cuts will not affect attractiveness of government debt instruments, says Kouchouk