Latest in Highlight
Automation of tax and customs systems to be accelerated to stimulate production, says Maait
Finance Ministry to provide EGP 3bn as guarantee for bank loans to tourist, hotel establishments at 5% annual interest
Export Development Fund disburses EGP 2.133bn in export subsidies from January to April
Any potential postponement of financial obligations, however, must be through regional and international movements, and Egypt is willing to support such efforts, Moeit explained.
Economic authorities’ excesses have been resolved, improved governance achieved
In a statement, Thursday, Maait said that in implementing the directives, an additional EGP 2bn will also be made available between now and June, to pay delayed dues to exporters
State employees’ wages to increase by 11.3%: Finance Minister
Egypt is first in emerging countries for debt reduction, second in budget surplus
Moeit added during his meeting with the leaders of the Egyptian Tax Authority that the authority should set a strong foundation of trust with taxpayers and provide all the necessary facilities to stimulate the investment environment.
The Minister of Finance emphasised that Egypt’s current situation and debt level are within the safe zone, in comparison to various emerging markets, “which reflected positively on the government’s ability to pay the costs of its debts regularly, indicating the state’s commitment to its pledges.”
Under this agreement, the government is committed to paying 20% of the dues before the month’s end, 20% during the first quarter of the next fiscal year, and the rest over three years.
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.
Automotive, SCZone investments top priority for discussions, says Nosseir
‘We will join the Morgan Stanley index for the emerging market very soon,’ says Moeit
Digital transformation is one of the pillars that promote the economic GDP growth, says finance minister Moeit
The conference will also feature financial sector leaders from across the world, delivering their views on the digital transformation taking place in the financial industries in Egypt and globally.
Country’s non-oil exports record $13.037bn in 1H19, says GOEIC
Non-sovereign bodies taxes reach EGP 517bn, representing 9.9% of GDP
Moeit’s statements came during a press conference for the development of the Tax Authority, where he pointed out that the government is working to develop and restructure of the authority as it contributes more than 75% of the country’s total revenues.
Egypt’s fiscal policy aims to raise the GDP growth rate to 6% in the next fiscal year (FY) 2019/20, after the recent increase of 5.5%, Minister of Finance Mohamed Moeit said on Saturday. Moiet explained that the economic reforms implemented since 2016 allowed the country to overcome various economic difficulties, and set the national economy …
In 2018, treatment beneficiaries at state’s expense increase by 6.8%
Finance Minister calls on British businesspersons to contribute to health projects
Meeting is great opportunity to enhance British-Egyptian health cooperation, says Nosseir
The Egyptian government targets a budget deficit of 7.2% and a GDP growth of 6.1% in fiscal year (FY) 2019/20, the Minister of Finance, Mohamed Moeit, said on Tuesday during an industry conference. During the conference organised by the Egyptian Center for Economic Studies, Moeit added that as the FY nears its end (June), there …
Egyptian-Korean cooperation in railways, water treatment fields
Real estate tax revenues increase by 102%, education, health, public investments expenditure increased by 21%, 27%, 64% consecutively
The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $2bn to Egypt as the fifth tranche of its $12 loan, the Minister of Finance, Mohamed Moeit, announced on Monday. So far, Egypt has received $10bn from the extended $12bn loan facility signed in 2016. Moeit said that Egypt is expected to …
Finance Ministry to offer international bonds in 1Q19, while Samurai, Panda bonds still under consideration
Inviting Egypt to participate in forum after 5 year-absence came as result of prominent reforms
New taxation draft law to be available for social discussion during next two weeks