Minister of Finance

Finance minister says 2020-2021 budget "flexible" to deal with coronavirus

Tue, 07 Jul 2020 - 10:06 GMT

The government is ready to take all measures and make decisions needed to limit the negative impact of that pandemic on the Egyptian economy, Ma’it said.

Egypt approves new customs facilities in light of coronavirus crisis

Mon, 06 Jul 2020 - 11:43 GMT

"TRIPTIK" cars will be exempted from the fine imposed until the return of land and sea travel between countries.

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 Ministry: LE 5.7B allocated for social housing program in new budget

Wed, 03 Jun 2020 - 11:20 GMT

These allocations represent the costs borne by the state to support the low-income strata who are benefiting form the social housing program.

EgyptAir gets $2B supportive loan to face COVID-19 pandemic

Sun, 17 May 2020 - 11:15 GMT

Ma’it added that the state treasury will bear the loan’s burden until the company achieves operating rates equivalent to 80 percent of the operating volume in 2019.

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.

Finance, trade ministers ink 41 settlement agreements for exports' arrears

Wed, 06 May 2020 - 12:59 GMT

The presidential directives are clear to support the exports, saying that the exporters will pay 30 percent of their arrears by the end of this fiscal year with a minimum limit of LE 5 million.

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.

Maait: Economic reforms fostered Egypt's economy in face of COVID-19

Sun, 03 May 2020 - 08:03 GMT

The price of gas and electricity for factories has been reduced with a total value estimated at LE 10 billion borne by the state treasury, the minister 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.

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.

Finance Ministry: LE 7B initial surplus in state budget in 3 months

Thu, 19 Dec 2019 - 01:14 GMT

The report said the total spending recorded LE 303.3 billion in the three months.

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.