Egyptian Cabinet
The Cabinet approved on Wednesday a draft decision to exempt semi-wrought gold carried by Egyptians coming from abroad from custom duties and other applicable fees, except Value Added Tax (VAT), for six months.
Egypt’s Minister of Agriculture Elsayed al- Quseir, said that during the period from April 28 to May 3, 237K tons of corn and soybeans worth about $107 million, were released from ports, in an increase of 22,000 tons over last week.
Egypt’s new export rebates program will run for up to three years with an estimated cost of LE 28-30 billion over the coming fiscal year 2023/2024, the Cabinet announced in a statement on Sunday.
Egyptian Prime Minister Mostafa announced next Thursday, 26 January, a paid holiday for employees at the public and private sectors on the anniversary of Police Day and the 2011 Revolution anniversary.
Egypt will adopt a five-year initiative worth LE 150 billion to support the agricultural and industrial production sectors, especially by reducing their loans’ interests, in the face of the repercussions of the global crises, the Cabinet has announced.
Stuck goods worth $1.5 billion were released from Egyptian ports from 1 to 10 January, upping the total value of released goods since the start of December to $8.5 billion, the Cabinet said in a statement on Wednesday.
The Egyptian Cabinet has announced next Sunday, 8th of January, a paid holiday for employees of the public and private sector to celebrate Christmas instead of Saturday.
The center said that many developments took place in 2022 in spite of the international crises that cast a shadow on various economies.
Madbouli met on Thursday with Minister of Supply and Internal Trade Ali El-Moselhi to follow up on the ministry’s efforts to provide rice in local markets.
This comes amid a shortage in feed nationwide, which led some of the workers in farms to execute chicks. Footage showing execution of chicks circulated on social media has stirred anger among people.
However, the exemption will last only for four months after the law is published in the Official Gazette, according to the Cabinet.
The new law widens the scope for the state’s reconciliation with citizens responsible for building violations, including the possibility to reconcile with buildings that exceed the height specified by the Civil Aviation Authority.
The decision raises the wheat procurement price from LE 865-885 during the current wheat harvest season, which started in April.
Egypt’s Cabinet has announced next Saturday, 30 July, a paid day off for the public and private sector on the occasion of the Hijri New Year’s Eve.
The meeting, attended by a large number of ministers and officials, reviewed preparations for hosting the conference, according to a statement by the Cabinet.
Investments amounting to more than LE 700 billion were and are being implemented to develop the Sinai Peninsula over eight years, the Egyptian Cabinet said in a lengthy report.
As per the Egyptian Ministry of Finance’s announcement late in March regarding issuing Samurai bonds, Egypt would thus be a leader in the Middle East in this field, the Cabinet said on Wednesday.
During the meeting, chaired by Prime Minister Mostafa Madbouly, Moselhi said the Ministry of Supply has secured more than 400 points to receive local wheat this year, affirming that there are enough strategic capacities to receive this quantity of local wheat.
Egypt has submitted a request to the International Monetary Fund (IMF) to start negotiations about a new program that seeks to support Egyptian state’s plans of national comprehensive economic reform, the Egyptian Cabinet said.
As per the directives, price of wheat ardeb, which is equal to 150 kilograms, will be LE 865, 875, and 885 for wheat with purity percentage of 22.5, 23, and 23.5 respectively.
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