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Latest in Tag: ministry of finance

Budget deficit records 2% in Q1 FY 2017/2018 

The total deficit of the Egyptian public budget during the first quarter (Q1) of the current fiscal year (FY) dropped to 2% of the GDP, reaching EGP 85.3bn, down 2.2% from EGP 76.8bn in the same period of the previous FY, according to the Ministry of Finance. According to the ministry, the deficit declined due …

Ahmed Ismail

Investors welcome economic reforms in Egypt: CI Capital

CI Capital arranged one-on-one investor meetings for the Egyptian Finance Minister Amr El-Garhy in London on 26 April. Several meetings were held and attended by El-Garhy, alongside global fund managers who manage assets totalling $3.7tn. CI Capital stated that the positive outlook of investors on Egypt was strengthened by the economic reforms currently undertaken, illustrating the …

Daily News Egypt

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