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Parliament’s Budget Committee leaves VAT rate to the public session

Parliament’s Budget and Planning Committee has decided to leave setting a value-added tax (VAT) rate to the public session for discussion and vote. Yasser Omar, a member of the parliament’s Budget and Planning Committee, said that the committee’s report will be put up for discussion in a public session without a recommended rate. The original …

Abdel Razek Al-Shuwekhi

Inflation rate likely to rise next year: experts

Egypt’s core inflation rate climbed to its highest level in seven years in June, underscoring the challenges confronting the government as it grapples with a foreign-currency crunch. Annual core inflation, which excludes volatile items such as food, reached 12.3% in June, up from 12.23% in May and the highest since February 2009, according to the …

Hisham Salah