Finance Minister

Maait: Over LE 24B allocated to health sector to face Covid-19

Wed, 13 Oct 2021 - 07:11 GMT

Finance Minister Mohamed Maait said that over 24 billion Egyptian pounds were provided to the health sector to face Covid-19 pandemic and nearly 47 billion Egyptian pounds were allocated to the education sector to support the education system.

Egypt's gov't indebtedness decreases 20.5% of GDP in 3 years: Min.

Wed, 28 Apr 2021 - 03:24 GMT

Maait stated in a statement that the government indebtedness decreased from 108 percent of GDP in June 2017 to 87.5 percent in June 2020.

Finance min.: Gov't targets increasing spending on health, education, social development

Fri, 16 Apr 2021 - 01:02 GMT

Speaking during the 2021 World Bank Group/IMF Spring Meetings held via video conference, Maait said Egypt is going ahead with the anti-coronavirus measures via meeting the requirements of the health sector, as well as backing the economic sectors and the most affected social strata.

Finance minister: State repaid LE 288 billion to National Organization for Social Insurance in 2 years

Fri, 02 Apr 2021 - 01:28 GMT

Finance Minister Mohamed Maeit said the State's general budget repaid EGP 288 billion to the National Organization For Social Insurance (NOSI) in 21 months upon directives of President Abdel Fattah El Sisi to settle the financial entanglement with the organization.

State managed to improve salaries despite COVID-19: Finance min.

Thu, 31 Dec 2020 - 09:54 GMT

As for the new taxes law, he noted that the new law is meant to realize justice, expounding that the number of people exempted from taxes rose to 60 percent.

Power of administrative seizure revoked from all revenue authorities: Egypt's finance minister

Fri, 11 Dec 2020 - 03:21 GMT

The decision shall then be ratified by the finance minister, he added.

Egypt's Finance minister: State keen to support industrial sector

Fri, 23 Oct 2020 - 01:21 GMT

This should be achieved in a way that helps maximize the production capacities, expand the export base, and improve the competitiveness of the Egyptian products at the international market, he added.

Egypt's Finance min. announced new facilities to encourage citizens to pay government dues via e-payment

Wed, 30 Sep 2020 - 02:20 GMT

In statements on Wednesday, the minister said these facilities will enable citizens to receive services without any added expenses.

Egypt Prepares to Make its Mark in the Green Bond Market

Sun, 27 Sep 2020 - 11:10 GMT

The Arab Republic of Egypt has adopted a green bond framework for the issuance of sovereign green instruments, signaling its commitment to its environmental and sustainable development objectives.

Finance min. forms unit for program & performance budgeting

Fri, 25 Sep 2020 - 02:37 GMT

The unit shall be responsible for developing plans, outlining, and implementing the state's general budget on the basis of programs and performance.

No prejudice to exemptions contained in Egypt's agreements concluded with foreign countries: Min

Tue, 18 Aug 2020 - 05:19 GMT

The draft law “canceling the exemption decided on the returns of treasury bills, bonds and capital gains resulting from dealing on these bills and bonds from income tax” approved by the Parliament's Plan and Budget Committee, will not affect the exemptions established in the agreements concluded between the government and foreign countries

Political leadership keen on automating Egyptian Tax Authority, applying e-bill system

Thu, 23 Jul 2020 - 12:12 GMT

Maait thanked the companies who joined the experiment operation phase of the e-bill system.

Finance Ministry to auction EGP 181.5 bln T-bills, bonds in January

Wed, 02 Jan 2019 - 01:14 GMT

The Ministry of Finance will auction treasury bills and bonds at a total value of EGP 181.5 billion during January.

Finance minister appoints Kamal Negm as new head of customs

Tue, 07 Aug 2018 - 12:13 GMT

Negm was the head of the Central Administration of the Eastern Province in the customs operations sector.

Egypt keeps custom dollars at LE 16 in August

Tue, 31 Jul 2018 - 01:04 GMT

The minister said that the custom dollar rotates around 90 percent of the prevailing dollar price in the banking market.

Egypt keeps custom dollars at LE 16 in July

Thu, 28 Jun 2018 - 01:05 GMT

The minister said that the custom dollar rotates around 90 percent of the prevailing dollar price in the banking market.

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 discusses setting up sovereign fund for state companies

Mon, 05 Mar 2018 - 08:50 GMT

The idea of the fund is being discussed internally and is in its early stages, he told a conference in Dubai.

Bitcoin slides 14% on crackdown fears, hits four-week low

Tue, 16 Jan 2018 - 09:22 GMT

Bitcoin slid on the news, trading as low as $11,730 on the Luxembourg-based Bitstamp exchange, down 13.6 percent on the day.

Finance minister expects inflation rate below 20% next month

Wed, 10 Jan 2018 - 09:40 GMT

“It’s a better than good indication and puts us on a good path,” said Garhy.