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Draft 2020-2021 budget sets oil price at $61per barrel
State employees’ wages to increase by 11.3%: Finance Minister
President Al-Sisi orders wage increase for public workers in 2020/21 budget
Periodic bonus of 7% for civil servants, 12% of basic salary for non-civil servants, with minimum of EGP 75, no maximum
Egypt’s budget deficit rose to 2.1% of GDP in Q1 of current FY:MOF
The report attributed this slight increase in the budget’s deficit to the slight decline in revenues by 0.9% from July to September of FY2019-2020, and the increase in expenditure by 9.9% in Q1 of current FY.
Egypt to apply participatory budgeting in FY 2020/21: Finance Ministry official
The results of the Citizen Budget initiative encouraged introducing the participatory budgeting, says Sarah Eid
Egypt’s primary budget surplus registers EGP1bn in July: MOF
NIR increased to $45 bn in August 2019 covering 8 months of imports
Recent interest rate cuts save EGP 20-25bn in state budget: Finance Ministry
Interest cuts will not affect attractiveness of government debt instruments, says Kouchouk
Bank financing’s contribution to budget deficit declines in 2Q19: CBE
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
Government hedges against oil price increase at under $70 per barrel
Renewal of hedging contracts every 3 months with review of oil value in markets: Source
Egypt’s GDP grows 5.6%, budget deficit registers 8.2% in FY 2018/19
The ongoing fiscal reforms managed to reduce the budget deficit to 8.2% in FY 2018/19, in continuation to the ongoing down trend from 9.8% in the FY 2017/18 and 12.5% in FY 2015/16.
EGPC forecasted net profit fell to EGP 21.4bn in FY 2019/20, down 30%
Profit targets were set based on minimum oil, gas production, say sources
Initial surplus in Egypt’s budget EGP 58.2bn in 11 months: Ministry of Finance
Meanwhile, Egypt achieved an initial surplus of only EGP 1.9bn during the period from July 2017 to the end of May 2018.
Misr Insurance Holding Company approves 2019/20 draft budget
Target revenues of EGP 20.4bn, up by 21.5%, net profit at EGP 4.3bn, up by 34.5%, estimated investments of EGP 70.7bn, up by 8%
Parliament approves Egypt’s largest-ever budget of EGP 1.6tn for FY20
EGP 326.8bn for health and education, EGP 301bn for wages, EGP 149bn for food and commodities subsidies
Egypt’s budget deficit drops to 5.6% in 10M of FY 2018/19
According to the financial report, the overall deficit declined as a result of the higher growth rate in revenues than the growth rate of expenditures
Government plans to offer treasury T-Bonds, T-Bills worth EGP 146.5bn in June
Finance Ministry borrowed about EGP 184bn in T-Bills, T-bonds in April, about EGP 148bn in May
Tarek Shawky urges ministry of finance to increase education reform’s budget
We only received EGP 99bn, despite requesting EGP 138 bn, said Shawky
Initial budget surplus of EGP 35.5bn in 9M of current FY: Egypt’s Finance Minister
Planned increase in stock exchange duty cancelled, stamp duty stays at EGP 1.5
Neeasae’s budget records EGP 230m for FY 2019/20
Company owes EGP 90m to NIB
Egypt’s high interest rates exert pressure on budget: WBG
Social conditions remain difficult, inflation eroded real income, says report
Egypt targets 7.2% deficit, 6% GDP growth, 6.163tn total GDP in FY 2019/20
New draft budget sets price of Brent crude at $70 per barrel, up from $67 per barrel in current FY
Government plans to borrow EGP 478.5bn to fill budget deficit
Finance Ministry launches bids for T-Bills, T-Bonds for EGP 184bn in April, EGP 148bn in May, EGP 146.5bn in June
Egypt targets budget deficit of 7.2%, GDP growth of 6.1% in FY 2020: Finance Minister
The Egyptian government targets a budget deficit of 7.2% and a GDP growth of 6.1% in fiscal year (FY) 2019/20, the Minister of Finance, Mohamed Moeit, said on Tuesday during an industry conference. During the conference organised by the Egyptian Center for Economic Studies, Moeit added that as the FY nears its end (June), there …
EGP 21bn primary surplus, total deficit reduced to 3.6% of budget in H1 FY 2018/19: Moeit
Real estate tax revenues increase by 102%, education, health, public investments expenditure increased by 21%, 27%, 64% consecutively
SCZone budget of EGP 10.4bn for the next FY approved
Revenues from settlements expected to reach EGP 3.4bn in coming years, says Mamish
Goldman Sachs Group Inc, IIF, expect lower oil prices in 2019
Each dollar increase in oil barrels from budget target costs state additional EGP 3 to 4bn to support petroleum products: Finance Minister
Total government debt increased to EGP 4,315bn, budget deficit decreased to 3.1% of GDP
GDP grew by 5.2% during FY 2017/18, compared to 3.6% during last FY
Government intends to borrow EGP 473.75bn in Q1 of 2019 to bridge budget gap
Finance Ministry to float T-bonds, bills worth EGP 181.5bn by January, EGP 146bn by February, EGP 146.25bn by March
Egypt’s overall budget deficit rose to EGP133bn during 4 months ending last October
State’s overall budget deficit down to 2.5% of GDP during period from July to October 2018
Oil price plummeting relieves pressure on Egypt’s budget
Recent geopolitical events have sparked key role in decreased prices
Egypt’s 2019/20 budget targets 6.5% GDP growth, 10.9% inflation
Plan requires increasing investment to about 25%, reducing unemployment gradually to 8%, through providing 900,000 jobs per year: Moeit