Mohamed Ma’it

Economic Ministerial Committee approves amendments of VAT law

Wed, 24 Jun 2020 - 02:50 GMT

Minister of Finance Minister Mohamed Ma’it presented the proposed amendments of some provisions of the VAT law to the Ministerial Economic Committee.

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.

Egypt finishes amendments of value-added tax law draft

Mon, 15 Jun 2020 - 05:22 GMT

Minister of Finance Mohamed Ma’it affirmed in a statement Monday, June 15 that there is no prejudice to the tax rate in the draft amendment of the value added law.

Finance min.: Egypt seeks to maintain safe economic course under coronavirus crisis

Thu, 14 May 2020 - 01:37 GMT

The economic reform program has also reinforced the national economy in the face of challenges and crises, he said.

Egypt spends LE 40B of LE100B package allocated to confront COVID-19

Thu, 07 May 2020 - 02:28 GMT

The spent amount included the provision of about LE 5.1 billion in additional allocations for the Ministry of Health, and LE 5 billion for the Ministry of Supply to provide additional needs of food supplies and wheat.

Egypt expects 19/20 budget deficit to increase to 7.8-7.9% due to COVID-19

Tue, 05 May 2020 - 03:41 GMT

Ma’it added that the budget project for the coming fiscal year 2020/2021 was expected to achieve an initial surplus of 2 percent, but that after the occurrence of the corona virus crisis, this surplus is expected to drop to only 0.6 percent.

State keen on reducing Covid-19 economic fallout with no burdens on citizens

Sun, 03 May 2020 - 01:15 GMT

Maait made his remarks during a meeting of the parliament's plan and budget committee to debate a government bill for imposing a new fee to develop state financial resources.

Economic reforms saved us from difficult situation: finance min.

Sun, 03 May 2020 - 01:09 GMT

Despite the tough decisions adopted by the state to carry out economic reforms, the situation would likely not be as good as now, Maait said.

Finance Ministry: LE 10B additional gov't investments

Thu, 16 Apr 2020 - 12:44 GMT

The boost will contribute to creating new jobs, paying financial dues of contractors and upgrading services, he said.

Egyptian gov’t disburses 30% of exporters’ dues with minimum of LE 50M

Tue, 07 Apr 2020 - 02:11 GMT

The exporting companies will be excluded from submitting a certificate of tax position to pay their dues with the Export Support and Development Fund until the end of June.

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.

Egypt ranks 2nd in capability of facing economic shocks: Min.

Tue, 11 Feb 2020 - 11:56 GMT

Ma’it added that the country came in the fifth place globally in terms of the economic growth, with a growth rate of 5.6 percent.

Finance min. reviews Egypt’s financial performance in H1 of 2019/20

Mon, 20 Jan 2020 - 04:08 GMT

Mai’t added in a press conference that Egypt achieved a primary surplus of LE 30 billion (0.5 percent) during the first half of 2019/2020.

Electronic link between clearance arenas, ports to be completed in Feb.

Sun, 19 Jan 2020 - 04:13 GMT

The single window system is subject to continuous development, especially the system of standardization and mechanization of customs procedures.

Egypt saves LE 650B through reform program

Tue, 10 Dec 2019 - 10:52 GMT

Ma’it said that the ministry is studying developing three new types of bonds for investors in the next 2 years to diversify the state’s sources to control the deficit bill.

Economic reform program reflected in positive figures: Ma’it

Mon, 09 Dec 2019 - 10:52 GMT

Ma’it added that the unemployment rate fell from 13.3 to 7.5 percent and the inflation rate from 36 to 3.4 percent.

Egypt signs "Yaoundé Declaration" on tax transparency: Finance ministry

Wed, 27 Nov 2019 - 12:01 GMT

The move puts the country in a list of some African countries including, Cameron, Uganda, Ghana, Congo, South Africa, Morocco and Tunisia.

Egypt aims to reach growth rate of 6.4% during 2020/21: Min.

Mon, 11 Nov 2019 - 02:41 GMT

The government aims to reduce the overall deficit rate to 6.2 percent, with the public debt to GDP ratio falling to 80 percent by completing fiscal controls.

Finance Minister denies postponing gov’t IPOs

Mon, 09 Sep 2019 - 01:28 GMT

Ma’it added on the sidelines of the Euromoney conference that floating public companies in the bourse may happen at any time.

Egypt aims to offer $3B-to-$7B in int’l bonds during 19/20

Mon, 09 Sep 2019 - 01:25 GMT

Ma’it added that his country is interested in offering bonds in Chinese yuan.