The preliminary financial statement for the 2018/2019 budget estimated a budget deficit of LE 438.59 billion, compared to LE 430.8 billion ($24.42 billion) as an expected deficit of 2017/2018 budget, with an increase of LE 7.5 billion.
Russian tourists visiting Egypt are expected to reach one million by the end of year, former head of Egypt's Federation of Tourism Chambers Elhamy al-Zayat said on Sunday.
The Egyptian economic reform program contributed in reducing the unemployment rate by 2.3 percent in three years, Minister of Finance Amr el-Garhy said.
Parliament finally approved on Sunday amendments to some provisions of the Income Tax Law no. 95 of 2005. The amendments are related to two articles of the law.
The Egyptian Exchange (EGX) ended Sunday's session in red, amid foreign selling. The benchmark EGX30 declined 0.15 percent by the end of Thursday’s session, or 26.83 points to end at 17,588.86 points.
Egypt aims to direct LE 10 billion of the government’s investments in the new fiscal year 2018/19 to develop Upper Egypt’s governorates, Planning Minister Hala al-Saeed said on Sunday.
Iron and cement’s expected revenues in the upcoming budget of fiscal year 2018/2019 recorded LE 300 million ($17 million) of the total revenues of LE 989 billion.