Minister of Finance

Finance min. orders offering all needed facilities at customs authority

Wed, 14 Apr 2021 - 01:14 GMT

This came within the framework of the national project for upgrading and mechanizing the customs administration.

Finance min. probes economic cooperation with Sudan

Tue, 13 Apr 2021 - 12:25 GMT

He also hoped that the Egyptian-Sudanese joint economic committee would exert more efforts to remove all trade barriers.

Finance ministry: Int’l economic institutions have optimistic, positive outlook on Egypt’s economy

Mon, 15 Mar 2021 - 03:41 GMT

The minister cited reports issued by international economic institutions about Egypt’s economy and their optimistic and positive outlook on Egypt’s economic performance for the coming years.

Finance ministry denies imposing new tax on sale of real estate

Wed, 24 Feb 2021 - 03:21 GMT

In a press release on Wednesday, the minister said the tax imposed on the sale of real estate was reduced from 5 percent to 2.5 percent in 1996 to lift the burden on the citizens.

Egypt launches second phase of e-invoice system

Mon, 15 Feb 2021 - 01:52 GMT

The minister pointed out that the first phase of the electronic invoice system, which was launched on November 15, was successfully completed.

Foreign investments in Egyptian bonds exceed $25B

Wed, 10 Feb 2021 - 02:58 GMT

The minister emphasized that the budget for the current year 2020/2021 has a growth in public expenditures by about 9 percent, and a growth in tax revenues by about 13 percent.

Egypt does not intend to offer more int'l bonds before June 30th: Fin. Min.

Wed, 10 Feb 2021 - 02:37 GMT

"We found a good opportunity at a low cost and a long term that provided access to debt instruments in hard currency, which would help improve the debt structure."

Indictors of state budget in H1 FY 2020-21 characterized by balance, positivity: Finance min.

Wed, 10 Feb 2021 - 01:13 GMT

The government managed to achieve an initial surplus of LE14 billion as a result of expansion in investment and development projects.

Minister of Finance determines uses of Eurobonds proceeds

Tue, 09 Feb 2021 - 01:18 GMT

These bonds will also provide the required financing to deal with the crisis and repercussions of the Coronavirus pandemic, financing financial stimulus initiatives and the needs of the health sector, as well as financing social protection and human development programs.

Egypt pays LE 260B into pension fund within 19 months

Mon, 01 Feb 2021 - 03:42 GMT

He added that on the 30th of next June, Egypt will have paid LE 360 billion.

Finance min. announces launch of 2nd stage of initiative on cash repayment of export companies’ arrears

Sun, 31 Jan 2021 - 02:23 GMT

The door is open for joining the second stage from February 7 to February 28.

Finance minister says state serious about combating tax evasion

Tue, 26 Jan 2021 - 01:18 GMT

In a ceremony to honor Salah Mohamdy, head of the Public Taxes Mission Corporations, the minister thanked the tax officers who expose corruption and reject bribes .

Egypt's debt service bill fell to LE 246B in 6 months

Thu, 14 Jan 2021 - 03:58 GMT

He stressed that the decline indicates the success of the Ministry of Finance's efforts in reducing the cost of financing due to financial discipline, diversifying funding sources

Egypt's revenues hike to LE 453B in 1st half of 20/21, expenditures record LE 681.2B

Thu, 14 Jan 2021 - 02:13 GMT

Total tax revenues rose by about 10 percent during the period from July to December 2020 to reach about LE 334 billion, compared to about LE 304 billion during the same period of the previous fiscal year.

Maait to MSMEs: Simplified tax based on volume of business

Mon, 11 Jan 2021 - 03:59 GMT

The tax, under the new law, will be a simplified one that doesn’t require records, documents or purchase invoices.

Egyptian economy still able to face repercussions of coronavirus: Fin. Min.

Mon, 04 Jan 2021 - 12:45 GMT

The elaborate implementation of the economic reform program and dealing with a proactive methodology helped a lot in containing the repercussions of the coronavirus crisis, and mitigating the shock.

Finance min. reviews achievements of comprehensive health insurance system

Thu, 24 Dec 2020 - 05:15 GMT

Marking the first anniversary of the mega national project, Maait said the strong political will was the key factor on the success of the comprehensive health insurance system.

Egypt denies intention to offer int'l bonds worth $7B during H1 of 2021

Sun, 20 Dec 2020 - 03:18 GMT

Maait confirmed, in a TV interview on, Saturday, that Egypt did not address a number of international banks regarding the offering, denying a previous Bloomberg report indicating this.

Finance minister: Egyptian economy beats expectations despite Covid-19

Thu, 10 Dec 2020 - 06:16 GMT

The Egyptian official said in a statement on Thursday that the ministry prepared "Challenge and Achievement" report about the economic performance during 2020 for the second year in a row.

Finance Ministry: PMI reflects rebounding Egyptian economy

Tue, 08 Dec 2020 - 03:21 GMT

He also pointed to an increase in new exports for the fifth month in a row, believing this improvement in the performance of companies reflects a strong economy in Egypt.