Reforms

Remittances from Egyptians abroad double to $2.7B after financial reforms

Mon, 25 Nov 2024 - 04:23 GMT

Remittances from Egyptians abroad witnessed major leaps after reforms in March 2024, doubling in Sept. 2024 to record about $2.7 billion.

Egyptian Cabinet approves of new draft laws to enhance tax support for SMEs: Kouchouk

Thu, 31 Oct 2024 - 12:32 GMT

Kouchouk added that these aim to stimulate growth among small businesses, simplify tax processes, and resolve existing tax disputes

IMF conducting study on impact of reforms on Egyptians before 4th review

Mon, 28 Oct 2024 - 01:51 GMT

New data is expected to reveal the effects of economic reforms on household spending following two years of currency devaluation and rising prices.

Al Mashat, Kouchouk meet with global finance corps to review Egypt’s reforms, investment opportunities

Thu, 24 Oct 2024 - 01:13 GMT

Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.

PM: Egypt will negotiate with IMF to review reform timeline

Thu, 24 Oct 2024 - 11:19 GMT

This decision comes in response to directives from President Abdel-Fattah El-Sisi earlier this week to reassess the agreement to alleviate the strain on citizens as Egypt grapples with economic hurdles, including inflation and high debt.

Egypt looks to extend timeline to implement IMF-backed reforms

Tue, 22 Oct 2024 - 11:24 GMT

The news comes within days of President Abdel Fattah El Sisi urging the government to reassess its agreement with IMF, stating, “If this challenge forces me to place unbearable pressure on the public, we must review the situation with the IMF.”

Egypt steadily moving towards tax stability through more balanced tax system: Tax Head

Sun, 20 Oct 2024 - 01:43 GMT

Abdel Aal clarified that the suggested reforms are part of a strategic plan aimed at ensuring the sustainability of Egypt's tax system while adhering to international best practices that prioritize taxpayer satisfaction.

Egypt preparing strategic fiscal policies to bolster investment, production, exports: Finance Ministry

Wed, 18 Sep 2024 - 12:56 GMT

The policies will focus on further improving fiscal discipline in the state’s budget indicators, a crucial component for fostering economic growth and ensuring effective long-term planning.

Investment Ministry planning new investment and trade policy: El-Khatib

Wed, 18 Sep 2024 - 12:50 GMT

El-Khatib emphasized that this new vision is designed to enhance confidence among both local and foreign investors.

IMF softened $8 billion loan program conditions during 3rd review in July

Tue, 27 Aug 2024 - 03:38 GMT

During the completion of its 3rd review of Egypt’s $8 billion loan program, the International Monetary Fund (IMF) adjusted and softened certain conditions attached to the program, providing the country more time to implement key reforms.

Egypt reduces core subjects for Thanaweya students, extends school week to 6 days

Wed, 14 Aug 2024 - 12:49 GMT

These changes will come into effect at the onset of the new academic year 2024/2025, commencing on September 21

Highlights from the IMF’s 3rd review of Egypt’s $8B Extended Fund Facility

Tue, 30 Jul 2024 - 11:40 GMT

With the 3rd review completed, Egypt will receive $820 million in the coming days, meaning it will have obtained $1.64 billion from the $8 billion loan since the agreement’s approval in 2022

International Co-op and Investment ministers meet to discuss strategies to attract FDIs

Sun, 21 Jul 2024 - 02:40 GMT

El-Khatib emphasized the importance of aligning efforts with global partners to expand productive and service sectors capable of generating financial returns

PM highlights Egypt’s resilient push for economic reforms despite external tensions and crises

Sun, 30 Jun 2024 - 03:40 GMT

“Egypt has remained steadfast in implementing our economic reform program amidst formidable challenges,” explained Madbouly on Sunday.

Egypt’s structural reforms and progress praised by EBRD in transitional report

Mon, 15 Jan 2024 - 03:52 GMT

The EBRD forecasted Egypt’s GDP to rise by 4.8 percent during FY2023/2024, driven by recent reforms to boost private sector growth and easing of external and fiscal vulnerabilities

Egypt committed to continue with structural reforms: Min.

Mon, 16 Oct 2023 - 03:59 GMT

Maait emphasized Egypt’s keenness for continuous coordination with the International Monetary Fund to maximize avenues of mutual cooperation that help achieve development, financial, and economic objectives.

Cabinet: Egypt launches national program for reforms without burdens on citizens

Sun, 23 May 2021 - 04:06 GMT

The center pointed out that the national program for structural reforms has drawn up a roadmap for the success of the first phase of the economic reform and dealing with COVID-19.

Egyptian president, Sudanese interim chief of state discuss economic cooperation, crises with Ethiopia

Mon, 17 May 2021 - 12:04 GMT

President Abdel Fatah al-Sisi met on Sunday Chairman of the Sudanese Sovereign Council Abdel Fatah al-Burhan in Paris, where they will both attend two conferences on Sudan and Africa.

Egypt launches 'National Program for Economic Restructural Reforms'

Wed, 28 Apr 2021 - 10:46 GMT

The program is the second phase of the National Program for Economic and Social Reforms, which will have a third phase.

Maait: Financial reform efforts positively reflected on budget indicators despite pandemic

Tue, 06 Apr 2021 - 02:27 GMT

Maait said the budget deficit decreased to stand at 7.9 percent of Gross Domestic Product (GDP), while the initial surplus was put at 1.8 during fiscal year 2019/2020.

More