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Plans to offer five other State-Owned Companies in Q1 2019
Egypt has no intention to return to imposing death, inheritance taxes, according to Finance Ministry
Maeet expects inflation to rise only temporarary as the economy absorbs the shock from the recent hike
Egypt’s Finance Minister Amr El-Garhy, said that the debt in both the petroleum and electricity sectors in the country have exceeded EGP 900bn, during a press conference on the sidelines of a weekly cabinet meeting on Wednesday. El-Garhy said that this situation cannot continue, especially with the challenging news that face the world, including the …
Egypt will wait for further stability in the global financial markets before deciding on a eurobond issue, Egyptian Finance Minister Amr El-Garhy said at the third Annual Arab Fiscal Forum in Dubai on Saturday. “We want to find the right time and we hope to do this in the next few days,” El-Garhy told Reuters. …
Government paid $200m of arrears owed to IOCs in January, $550m to follow in February, March
Supply goods subsidies increased by 65% to account for EGP 23.3bn
Inflation to fall below 20% in January and to decrease to 10-12% in 2018, says El-Garhy
Five international banks were chosen to arrange Egypt’s dollar-denominated eurobond issuance on 5 January 2018. The institutions are HSBC, JP Morgan, Morgan Stanley, Citibank and the National Bank of Abu Dhabi (NBAD), Finance Minister Amr El-Garhy announced on Thursday. El-Garhy said the $4bn eurobond issuance will be at the end of January 2018, which is …
Finance Minister Amr El-Garhy is scheduled to meet on Thursday with leading investment fund leaders with total assets under management of $280bn discuss with them further opportunities, according to a press release. El-Garhy, who is in Washington, D.C, will attend annual meetings of the IMF and the World Bank and will discuss Egypt’s latest macroeconomic developments …
Egypt finance minister Amr El Garhy said that the intention to tap debt market again is based on the growing confidence of investors in Egypt economy. El Garhy who was speaking on the sideline of Euro Money Conference kicked on Tuesday in the Egyptian capital Cairo. When the finance minister was asked about the funding …
El-Garhy expects headline inflation to hover around 15% by the end of next June
The government considers all options to bridge the gap
The executive board of the International Monetary Fund (IMF) has approved the disbursement of the second tranche of the $12bn loan and $1.25bn will be transferred within days, according to Finance Minister Amr El Garhy. El Garhy added that he is currently coordinating with the IMF to transfer the funds to the accounts of the …
The package benefits owners of salaries, pensions, beneficiaries of Takaful and Karama, holders of ration cards
Minister participates in IMF and World Bank meetings, meets major investment banks to review Egypt’s economic reforms
IMF to complete their review of the programme in June this year, before releasing the 2nd tranche
Egypt’s debt tripled in recent years due to the problems experienced during the last 40 years, says Al-Garhy
Order books for the bonds exceeded $13.5bn; Egypt to receive amount by early February
160,000 tax dispute cases will benefit from the privileges of tax dispute resolution law, says deputy minister
We have not studied cancelling the tax on treasury bills and bonds yet, but all ideas will be discussed.
VAT in FY 2016/2017 will render the state EGP 20bn and EGP 32bn in FY 2017/2018
Elswedy is negotiating with the Industry Ministry to expedite allocating lands for free as well as their usufruct right
37,000 feddans were recovered by the State Land Recovery Committee
Despite the progress accomplished by the government, effort is still needed to facilitate more investors and the private sector, says minister
The recent amendments aim to curb government spending and promote economic development, says El-Garhy
While faulting Madrid and Lisbon for failing to take necessary measures to bring their budgets within limits, the European Commission will leave it to EU finance ministers to decide if they deserve to be penalized.
Finance Minister Schäuble has presented Germany with another balanced budget to cement his reputation for austerity. But, with the country in need of social investment and interest rates low, isn’t it time to borrow?
The German cabinet has thrown its weight behind Finance Minister Wolfgang Schäuble’s draft budget for next year and his financing plans up to 2020. The main message is no fresh borrowing will be needed.