Amr el-Garhy

Outgoing finance min. reviews positive outcome of economic reform program

Thu, 14 Jun 2018 - 12:19 GMT

Garhy cited the strong backing that Egypt received from the G7 countries on the government reform program.

LE 1.9B primary surplus in 2017/2018 budget: Minister

Wed, 13 Jun 2018 - 08:20 GMT

Garhy added that tax yields also climbed 45 percent, compared to an average of 20 percent during the last three years.

Addressing Parliament, Garhy speaks on subsidies, taxes, deficit

Tue, 08 May 2018 - 02:52 GMT

The Finance Minister addressed on Tuesday a general session at the parliament to discuss the final account of the state budget for fiscal year 2016/17.

Parliament approves final account for 2016/17 budget

Tue, 08 May 2018 - 02:24 GMT

Garhy said that the deficit is declining by the year and that it dropped from 12.5 percent in 2016/17 to 10 percent in 2017/18.

Egypt to lower public debt to 80% by 2020: Finance Min.

Sun, 06 May 2018 - 02:56 GMT

This came during the “Inclusive Growth and Job Creation Conference” organized by IMF, in cooperation with the government and the Central Bank of Egypt.

Finance, housing ministers censured for missing parliamentary session

Thu, 03 May 2018 - 03:53 GMT

Finance, housing ministers censured for missing parliamentary session

Decline in inflation over past 4 months reflects improved economy: Min.

Tue, 01 May 2018 - 03:40 GMT

The decline also reflects stability in commodity prices, which were largely impacted by the flotation of the Egyptian pound, the Finance Minister said.

Egypt to record GDP of 7% in 2020/21: Finance Min.

Tue, 24 Apr 2018 - 11:01 GMT

Garhy added that the unemployment rate decreased from 13.5 percent in December 2017 to 11.3 percent in March 2018.

Egypt targets growth rate of 5.8% in next fiscal year: Min.

Wed, 18 Apr 2018 - 01:23 GMT

Egypt is targeting an unemployment rate of 9.7 percent by the end of 2019 and this percentage can be achieved by reaching a growth of 5.8 percent, according to Garhy.

Unemployment rate decreases 2.3% in 3 years: Min.

Sun, 15 Apr 2018 - 12:31 GMT

Garhy clarified that huge projects established by the government provided job opportunities whether temporary or seasonal.

Gasoline and diesel consumption down 2-3%, subsidy bill hits LE 110B

Thu, 12 Apr 2018 - 03:10 GMT

The price of oil in the new budget is set at $67 per barrel, Minister of Finance said.

Int'l bonds worth €2 bln issued - Finance Ministry

Tue, 10 Apr 2018 - 03:07 GMT

The Finance Ministry said Monday two billion euros have been auctioned in a dual-tranche euro-denominated bond sale.

Finance Ministry works to reduce the budget deficit to 4%

Tue, 03 Apr 2018 - 03:33 GMT

The economic growth rate hit 5.2 percent with the start of the current fiscal year, Amr el-Garhy said.

Egypt to float shares in 4-6 companies during 2018

Mon, 19 Mar 2018 - 08:21 GMT

Egypt plans to float shares in state owned oil company, Engineering for Petroleum and Process Industries (ENPPI), in September.

No official statement concerning dollar price in 2018/19: Min.

Thu, 08 Mar 2018 - 02:14 GMT

The government will announce the new price of the dollar in the upcoming budget after discussing the estimated budget.

Unofficial economy represents 40%: Minister

Thu, 08 Mar 2018 - 09:50 GMT

Garhy said that there is no official statement concerning the dollar price in the budget of fiscal year 2018/2019.

Egypt targets budget deficit of 8.5-8.7% in 2018/19: Min.

Wed, 07 Mar 2018 - 02:09 GMT

Garhy added during his speech that the budget deficit is estimated to record 9.6 - 9.8 percent during the current fiscal year.

Trade deficit improves 20%, tourism revenues stand at $19B: Min.

Wed, 07 Mar 2018 - 12:44 GMT

The minister added during his speech at "Combating Tax Evasion Conference" that tourism revenues are currently standing at $18-19 billion.

Taxes represent 72% of Egypt’s budget in 2017/18: Garhy

Wed, 07 Mar 2018 - 10:26 GMT

Amr el-Garhy said that Egypt implemented a treatment plan for economic bugs during 2016 and 2017, which helped in achieving sustainable development goals.

Egypt to choose banks to arrange next eurobond issuance in 2 weeks

Tue, 06 Mar 2018 - 09:29 GMT

Egypt will choose the banks that would manage its anticipated euro denominated Eurobonds in two weeks, Finance Minister Amr el-Garhy told Reuters Tuesday.