Sisi urges maintaining financial performance to reduce deficit, debt

Mon, 18 Oct 2021 - 07:27 GMT

Egypt’s President Abdel Fattah El-Sisi urged maintaining performance regarding the general budget indicators, leading to achieve an initial surplus of 1.5 percent.

Egypt targets growth rate of 5.4%, deficit reduction to 6.7% in 21/22

Mon, 18 Oct 2021 - 03:03 GMT

The minister explained that Egypt seeks to sustain the downward path of debt rates to GDP by adopting the implementation of a public debt management strategy based on diversifying sources of financing and issuing “dollar” bonds, “Eurobond” bonds, “green” bonds, and “sustainable development” bonds and sukuk.

Egypt's non-oil trade balance deficit records $30.7B during 9 months

Wed, 30 Jun 2021 - 03:23 GMT

The rise came as a result of the increase in payments for non-oil merchandise imports that exceeded the increase in receipts from non-oil merchandise exports, as payments rose by about $4.5 billion to record $45.4 billion.

Egypt's president urges studying coronavirus global, regional economic repercussions

Sat, 13 Feb 2021 - 09:37 GMT

Egypt’s President Abdel Fattah El Sisi on Saturday urged following up on and studying all the global and regional economic repercussions of the coronavirus pandemic to crystalize the appropriate financial measures.

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'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.

Capital markets professional slams claims of looming economic 'collapse'

Fri, 28 Jun 2019 - 09:43 GMT

Shams El-Din said that Egypt's external debt has been below the emerging markets average.

Egypt to reach normal rates of deficit, public debt: Minister

Wed, 12 Dec 2018 - 08:30 GMT

The minister added that the government aims to achieve a primary surplus of 2 percent, and a total deficit of 8.4 percent of GDP by the end of the fiscal year.

Egypt's exports to Netherlands up 29.5% in 2017: Trade Min.

Sat, 12 May 2018 - 10:10 GMT

Egypt's exports to the Netherlands recorded 269.7 million euros in 2017.

CBE issues LE 15.2B in T-bills Sunday

Sat, 12 May 2018 - 10:06 GMT

The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 15.2 billion in treasury bills on Sunday.

CBE issues LE 15.7B in T-bills Sunday

Sat, 05 May 2018 - 10:15 GMT

The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, is set to issue LE 15.7 billion in treasury bills on Sunday.

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 aims to trim budget deficit to 6.2% in 2019/20

Sat, 14 Apr 2018 - 11:07 GMT

Egypt targets a budget deficit of 8.4 percent of GDP in the new budget of fiscal year 2018/19.

Spending on public wages in new budget to reach LE 266B

Wed, 28 Mar 2018 - 01:16 GMT

he new budget for fiscal year 2019/19 targets to increase spending on public wages to LE 266 billion, while spending on social welfare will reach LE 332 billion.

Cabinet sends budget to President before referral to Parliament

Sun, 25 Mar 2018 - 02:31 GMT

he Cabinet will send the new budget for fiscal year 2018/19 to President Sisi this week for approval before referring it to the Parliament by the end of March.

Cabinet approves budget for FY 2018/19, refers it to Parliament

Sun, 18 Mar 2018 - 02:43 GMT

The new budget targets expenditures of LE 1.41 trillion and GDP growth of five percent.

Cabinet discusses new budget for FY 2018/19 Sunday

Sun, 18 Mar 2018 - 01:31 GMT

The government targets a primary budget deficit of two percent of GDP and curbing budget deficit to 8.5 percent.

Sisi discusses economic performance in 2017/18, new budget

Sat, 10 Mar 2018 - 05:05 GMT

President Abdel Fatah al-Sisi held a meeting Saturday with Finance Minister Amr el-Garhy and his deputies to review performance in fiscal year 2017/18.

Business News Wrap-up

Sun, 04 Mar 2018 - 05:27 GMT

A wrap-up of the most prominent business news of the day.

The comeback of the pound

Thu, 25 Jan 2018 - 10:00 GMT

With the most painful reforms behind us, most indicators show significant improvement, and an economy well-placed for a strong recovery in 2018.