Minister of Finance

Egypt implements $2.5B deals to exit state within “IPO” program

Sun, 22 Oct 2023 - 10:07 GMT

This step comes with the aim of helping to increase foreign exchange flows, and providing a portion of the foreign financing required to cover the needs of the Egyptian economy, in addition to continuing to achieve a primary surplus and growth in tax revenues.

Egypt committed to continue with structural reforms: Min.

Mon, 16 Oct 2023 - 04:59 GMT

Maait emphasized Egypt’s keenness for continuous coordination with the International Monetary Fund to maximize avenues of mutual cooperation that help achieve development, financial, and economic objectives.

Egypt seeks to boost tax-to-GDP ratio, intends to avoid adding burden on citizens

Mon, 16 Oct 2023 - 11:16 GMT

According to the finance minister, Egypt seeks to improve the ratio by expanding automated tax solutions, specifically targeting the integration of the informal economy into the formal economy

Egypt, AIIB forge path to sustainable development with $1.3B investment portfolio

Sun, 24 Sep 2023 - 04:34 GMT

Maait explained that Egypt is working closely with the AIIB, a multilateral global bank, to establish cross-border developmental partnerships, primarily led by the private sector.

Representing Africa at AIIB, Egypt aims to strengthen Africa-Asia ties, Maait

Wed, 23 Aug 2023 - 02:38 GMT

As a founding member of the AIIB, Egypt aims to fortify connections between Africa and Asia and realize its sustainable development goals with the overall goal of improving the livelihoods of African citizens, Maait stated

Egypt to allocate roughly LE 150 billion per year to raise state employees’ wages, pensions: Minister

Sat, 04 Mar 2023 - 01:43 GMT

Maait highlighted the state’s efforts to start paying higher wages and pensions to beneficiaries starting April.

Egypt plans to lower budget deficit to 4%, descend debt to 72% in 5 years: Maait

Mon, 24 Oct 2022 - 09:56 GMT

Maait elaborated that Egypt’s budget deficit recorded its highest rate during the period between 1980 to 1985, reaching 13.8 percent, before it started to decline to range from 4.4 percent to 6 percent.

COP27 host Egypt to expand initiative of replacing old vehicles with others running on natural gas

Sat, 08 Oct 2022 - 03:42 GMT

This will take place by engaging new cities and governorates to the initiative, Maait explained, noting that citizens of Upper Egypt’s Luxor and Aswan have been allowed to join the initiative.

Egypt aspires to promote Kuwaiti investments: Finance min.

Mon, 03 Oct 2022 - 03:32 GMT

The minister, meanwhile, said that the political leadership is keen on stimulating private sector activity, especially that Egypt has an advanced infrastructure and ability to accommodate investment expansion in the various sectors.

Egypt studies issuance of “green samurai” bonds during coming period

Wed, 21 Sep 2022 - 03:13 GMT

“Egypt is looking forward to doubling Japanese investments in Egypt, in order to consolidate the partnership between the two friendly countries, and in line with the bilateral cooperation relations," Maait added.

Gov't exit from some economic activities aims to empower private sector: Min.

Mon, 29 Aug 2022 - 05:25 GMT

Maait added that it also aims to increase the proportion of its contributions from the total implemented investments to 65 percent, and attract foreign direct investments of $10 billion annually over the next four years.

Finance Min.: Utmost efforts to be exerted to serve citizens

Mon, 15 Aug 2022 - 04:23 GMT

In a statement on Monday, he said efforts are underway to magnify state's capabilities for the optimal handling of the repercussions of the current international economic crisis.

Finance minister says amended customs tariff copes with HS 2022

Wed, 08 Jun 2022 - 03:19 GMT

It is used worldwide for the uniform classification of goods traded internationally, and has been accepted by all Contracting Parties to the Harmonized System Convention

Timeline of obligatory application of e-tax bills system to be announced: Finance min.

Thu, 26 May 2022 - 04:55 GMT

In a statement by the Finance Ministry, Maait said there are five stages to oblige the financers to register in the new system and issue electronic tax bills for the services and goods sold to final consumers.

Egypt prepares to issue its first sovereign sukuk in H2 of 2021-2022

Tue, 24 Aug 2021 - 12:47 GMT

He pointed out that the timing, size and type of offering will be determined later.

Maait: Enhancing economic cooperation with Sudan aims at activating bilateral trade

Sun, 18 Jul 2021 - 03:57 GMT

This came in a statement released by the Finance Ministry on Sunday on the outcome of Maait's meeting with Head of the Sudanese Customs Authority Bashir Al Taher and his accompanying delegation.

LE16.4B disbursed in 2 phases of "immediate payment to exporters" initiative: FinMin.

Sun, 11 Jul 2021 - 01:21 GMT

Since the beginning of the implementation of the initiatives to return the “arrears” of the dues of the exporting companies in October 2019 so far, the exporting companies have been supported with LE 28 billion; It is a support that was not previously allocated to the export sector, reflecting the state's keenness to stimulate exports.

Egypt's real estate transaction tax achieves LE7B annually

Tue, 29 Jun 2021 - 03:47 GMT

Maait added that the real estate tax is one of the oldest types of taxes in the legislative system, noting that it is a tax imposed when real estate is disposed of by sale, and the burden of which is borne by the seller, not the buyer.

IMF's conclusion of 2nd review of economic program attests to strong performance of economy - Maait

Thu, 24 Jun 2021 - 04:03 GMT

We are moving ahead with our reform and development march through achieving a balance and flexibility among the adopted financial and economic policies, Maait said in a statement Thursday.

Finance minister underscores efforts to boost partnership with private medical sector

Mon, 21 Jun 2021 - 10:47 GMT

Maait, in statements Monday, talked about serious action to seal deals with big private hospitals and health centers in all governorates.

More