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Treasury bonds will comprise of 30% of government holdings in Q3 compared to 20% in Q2
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.
Ministry denies allegations that teachers will not benefit from the new minimum wage system
The delegation will resume talks about Value Added Tax draft law
EGP 165m will be allocated for tourism, EGP 225m for petroleum, EGP 125m for industrial training, EGP 355m for improving railway crossings and EGP 11.5m for journalism
Government says it seeks to achieve social justice and economic development through a transparent and publicly disclosed budget
Tax Authority announced that it has collected EGP 80.3bn, while the tax revenue in the CBE is EGP 49.81bn.
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
Ministry asserts it did not embezzle or waste EGP 400bn from the insurance fund
Ministry says it “adheres to the standards of competence and integrity and avoids conflicts of interest”
Ministry says it has received cabinet approval for draft law, now awaiting presidential ratification
Ministry of Finance says GDP grew by 2.1% to EGP 1608.6bn during the past fiscal year
The ministry releases statement listing top five Egyptian banks that trade treasury bills and bonds
Ministry said it is taking “executive measures” to apply minimum income
Galal stated that the government aims to lower the deficit from 14% in the last fiscal year to only 10% during the current year, which he called the most important cause of rising prices.
The government relinquished these funds for the benefit of citizens, and it is expected that the largest part of this amount will go towards local consumption and increase demand.
Galal discussed with UAE Secretary of State cooperation in the fields of energy, health insurance and public debt management
59% of increases for government expenditures are for subsidies and debt settlements
No official statement on whether or not negotiations were reinitiated after post 3 July hiatus
Ministry will not forgive accused traffickers of weapons, drugs and artifacts
Increases in inflation rates from January to August 2013 totaled 9.4% compared to the same period during the previous year.
Six Egyptian ministries are cooperating in a project to integrate and unify the citizens’ database information to develop the subsidies programme and ensure its arrival for those deserving
Recent security unrest has resulted in the destruction of several state properties across Egypt
Political turmoil led to short-lived cabinets, uncompleted economic strategies and unqualified officials
Galal said the subject has so far received more attention than necessary and he sought to address the issue in an appropriate manner.
Minister of Finance presents strategy to automate fuel distribution amid shortages
Annual inflation increases to 10.28% in July compared to 9.75% in June
Galal announced that no property taxes or income taxes would be modified “in order to not harm the economy.”
The global lender said all discussions are being held with the technical team from the Central Bank of Egypt and the Ministry of Finance
Minister dismisses 15 advisors for having connection with Muslim Brotherhood