Latest in Tag: ministry of finance Highlight

Latest in Tag: ministry of finance

Ministry of Finance approves final calculation of 2015/2016 public budget with total deficit of 12.2%

Minister of Finance Amr El-Garhy approved the final calculation of the public budget for the fiscal year (FY) of 2015/2016 with a total deficit of 12.2% or EGP 339.5bn, compared to 11.5% in FY 2014/2015. According to the ministry’s statement on Tuesday, public revenues increased by 5.6% to register EGP 491.5bn owing to a boost in tax revenues, as compared to EGP 465.2bn for …

Daily News Egypt

Finance Ministry issues factoring activities to increase companies’ liquidity

Minister of Finance Amr Al-Garhi issued a decision to add factoring activities to financing activities to increase companies liquidity. Factoring allows companies to sell outstanding debt to a third part at a discount rate to receive the financing needed to continue working. The ministry’s decision will allow factoring within the permitted financing activities for operating …

Daily News Egypt