Latest in Tag: finance ministry Highlight
Latest in Tag: finance ministry
Egypt’s Ministry of Finance has revealed its intention to issue Treasury bills (T-bills) and Treasury bonds (T-bonds) worth EGP 222bn in August. The move comes as part of a larger plan that includes offering local debt instruments worth EGP 587bn to bridge the budget deficit, during the first quarter (Q1) of fiscal year (FY) 2021/22. …
Huawei shows interest in developing its fields of work in Egypt
20 bids for T-bills worth EGP 178bn, 13 bids for bonds worth EGP 69bn to be offered
State places great importance on easing farmers’ burden as main pillar for providing basic needs of citizens, says Mohamed Maait
S&P maintains Egypt’s credit rating in local, foreign currencies at ‘B’ level
Government’s plan includes 16 T-bills offerings worth EGP 142bn, 11 T-bonds offerings worth EGP 56bn
Financial stability maintained to ensure sustainable growth, reduce deficit, debt
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