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Egypt targets 6% GDP growth in FY 2019/20: Minister of Finance

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 …

Mohamed Samir

Finance Minister Mohamed Moeit

IMF approves $2bn loan tranche to Egypt: Minister of Finance

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 …

Daily News Egypt

Finance Minister Mohamed Moeit

Establishing first museum of commemorative coins, historical publications at Egyptian Mint

Minister of Finance Mohamed Moeit, inspected the equipment for the establishment of the first museum of commemorative coins in Egypt, which contains a collection of historical publications that have been in circulation since the establishment of the Egyptian Mint in 1950. The museum includes various categories of coins, which represent the history of the Egyptian state …

Daily News Egypt

EGP 324.4 spending on subsidy in FY 2017/2018

The spending on subsidy in state budget reached  EGP 324.4 in fiscal year (FY) 2017/2018 compared to EGP 276.7bn in FY 2016/2017, of which EGP 81bn for ration goods and bread subsidy, according to Minister of Finance Mohamed Maiet. Maiet said that the government’s subsidy program for food commodities witnessed the largest increase in allocations …

Shaimaa Al-Aees