Finance Minister

Over 1,100 companies register for export burden rebate program

Thu, 28 Mar 2024 - 02:41 GMT

The primary objective of this program is to stimulate the growth of Egypt's exports, boost production levels, and generate more employment opportunities.

Joining BRICS: Egypt’s way to reduce pressure on state budget amid global crisis

Fri, 25 Aug 2023 - 10:15 GMT

Egypt is scheduled to join the BRICS bloc of developing nations along with five other countries starting January 2024.

Fitch’s downgrade comes amid complex global challenges, external pressures on Egypt’s economy: Minister

Sat, 06 May 2023 - 05:28 GMT

Egypt’s Minister of Finance Mohamed Maait said Fitch’s decision to downgrade Egypt to B from B+ comes amid the complex global challenges of the Ukraine war, global inflation wave, and rise in interests.

President Sisi orders increasing social protection budget to LE 529.7B

Sun, 23 Apr 2023 - 04:06 GMT

Egypt’s President Abdel Fattah El Sisi ordered on Sunday increasing the social protection budget from LE 358.4 to LE 529.7 billion, marking a 48.8-percent increase to ease burdens resulting from the current global inflation, Finance Minister Mohamed Maait said

Egypt moves steadily toward attaining green recovery: Finance min.

Sun, 12 Feb 2023 - 04:36 GMT

Egypt seeks to pave the way for greater private and local sectors involvement in the eco-friendly investments, added the minister.

Finance minister to take part in IMF/WB Group annual meetings

Tue, 11 Oct 2022 - 10:56 GMT

Themed “Unity in a time of crises”, the meetings are meant to exchange views about and ideas of effective solutions to problems caused by successive global economic crises.

PM attends signing ceremony of Norway's Scatec pact to refinance projects in Egypt

Wed, 27 Apr 2022 - 11:28 GMT

Egypt’s Prime Minister Mustafa Madbouli met Wednesday with Terje Pilskog, CEO of Scatec company, where they discussed the first issuance of green bonds to finance Benban Solar Park.

Sisi calls for achieving financial discipline in State budget

Tue, 26 Apr 2022 - 11:09 GMT

President Abdel Fattah El Sisi has ordered continuing work to achieve the financial discipline of the State budget while taking all measures to ensure maintaining the State's safe financial and economic track.

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.