Minister displays Egypt's economic performance during COVID-19 crisis in IMF, WBG meetings

Sun, 18 Oct 2020 - 12:59 GMT

In one of the 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Minister of Finance Mohamed Mait displayed figures on the performance of the Egyptian economy during the COVID-19 crisis and plans for the future.

Egypt plans to invest LE3.5B in Cairo 4th metro line construction in FY2020/21

Tue, 04 Aug 2020 - 09:58 GMT

The government plans to invest LE3.5 billion in FY2020/2021 in the construction works of the first phase of the fourth metro line.

Egypt's public investment in FY2020/21 is 'unprecedented': min.

Sun, 02 Aug 2020 - 11:38 GMT

The aim of such investment is creating job opportunities, and inhibiting economic slowdown amid the COVID-19 crisis.

Egypt's total deficit hits LE389.1B in 11 months of 2019/2020

Mon, 20 Jul 2020 - 03:13 GMT

The total deficit during the 11 months ended in May represented 6.5 percent of GDP compared to about 6.2 percent of GDP during the same period in the previous year.

Sisi ratifies Egypt's 2020/21 budget

Wed, 08 Jul 2020 - 04:06 GMT

The law was published on the Egyptian Gazette Wednesday. The first article of the law stated that the uses of the state budget for the fiscal year 2020/2021 were estimated at LE 2.297 trillion.

Finance minister says 2020-2021 budget "flexible" to deal with coronavirus

Tue, 07 Jul 2020 - 10:06 GMT

The government is ready to take all measures and make decisions needed to limit the negative impact of that pandemic on the Egyptian economy, Ma’it said.

Gov’t expenditure to rise by 6%, revenues by 18 % in FY 2020/21 budget: Cabinet

Mon, 22 Jun 2020 - 06:38 GMT

Reaping the fruits of national economic reforms alongside the easing of the economic repercussions of the novel coronavirus are the key features of the 2020/21 budget.

Businessman Ayman Al-Gamil praises raising health allocations in 20/21 budget

Thu, 18 Jun 2020 - 05:00 GMT

Gamil also pointed out that there are many measures taken by the Egyptian state to advance the health system.

Finance min. says state budget for FY 2020/21 hit LE 2.2T

Thu, 18 Jun 2020 - 04:23 GMT

A total of LE 682.5 billion was allocated for the sectors of health, education and scientific research, compared to LE 545 billion in the FY 2019/20.

Finance Ministry: LE 7B allocated for supporting exports in FY 2020/21

Wed, 03 Jun 2020 - 11:23 GMT

The government aims at delivering natural gas to 1.2 million households, which in turn could contribute to reducing the government's subsidy for butane gas cylinders.

Finance Ministry: LE 5.7B allocated for social housing program in new budget

Wed, 03 Jun 2020 - 11:20 GMT

These allocations represent the costs borne by the state to support the low-income strata who are benefiting form the social housing program.

Finance Ministry issues financial statement of 20/21 budget

Tue, 02 Jun 2020 - 12:14 GMT

“Total expenditure in the 2020/2021 budget is planned to hit about LE 1.713 trillion, compared to LE 1.574 trillion in the 2019/2020 budget,” the ministry stated.

Egypt increases wages, pensions by LE 100B in 20/21: Prime Minister

Thu, 07 May 2020 - 02:36 GMT

Madbouli added that the state was keen to alleviate the burden off the Egyptian citizen during the coronavirus crisis.

Egypt's revenues, growth rate to be affected by COVID-19 pandemic

Tue, 05 May 2020 - 03:24 GMT

Egypt’s budget for fiscal year 2020/2021 will be affected by COVID-19 pandemic especially with regard to revenues and growth rates, as well as an increase in the item of expenses.

Private sector contributes by 26% of total investments in ICT sector in FY2020/2021

Sat, 02 May 2020 - 02:24 GMT

Private investments are worth LE6.9 billion in Egypt's ICT sector in FY2020/2021.

LE14.1B allocated to maintenance of utilities, public buildings in FY2020/2021

Sat, 02 May 2020 - 01:42 GMT

There is a LE2-billion increase compared to the current fiscal year.

LE60.9B allocated to water projects, housing in FY2020/2021

Sat, 02 May 2020 - 01:14 GMT

The ministry plans to raise the coverage of the water supply network, and 500,000 social and middle-income housing units will be built across the country.

House okays new contributions to 2019/20 budget

Tue, 21 Apr 2020 - 06:27 GMT

House Speaker Ali Abdel Aal said the final vote will be held Wednesday during the plenary session.

Egypt’s budget in COVID-19’s era

Tue, 21 Apr 2020 - 12:34 GMT

The draft budget that is the biggest in the country’s history comes with expenses of 1.71 trillion and revenues of LE 1.3 trillion, according to Ma’it's previous announcement.

Egypt's 20/21 budget biggest in history with LE1.71T expenses: Finance Min

Mon, 30 Mar 2020 - 06:14 GMT

Ma’it clarified Monday that 20/21 draft budget reflects the directions of the political leadership to improve the standard of living of citizens.