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Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.
High interest rates hinder attracting more FDIs, says GAFI’s former CEO
CBE’s decision to reduce interest rates reflects favourable inflationary trends, says Lall
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.
Institutional weaknesses, unfavourable external backdrop may weigh in on growth, inflationary pressure to rise, says the bank
Noteworthy, Egypt has been implementing economic reforms as part of a $12bn three-year programme agreed with the International Monetary Fund (IMF) in November 2016, including the cuts to energy subsidies and pound floatation, as well as the introduction of the value-added tax.
Only 1.7% of country’s public investment are injected in infrastructure, says Lagarde
Pharos Holding For Financial Investments issued a report commenting on the International Monetary Fund’s (IMF) fourth review of Egypt’s economic reform programme, stating that the programme is broadly on right track. All of the June and December 2018 performance criteria and indicative targets were fully met, with the exception of June’s target on public debt. …
‘I am trying to solve the problems and cases raised against me and I hope to return to Egypt,’ says Egypt’s ex-Finance Minister
Egypt should focus on non-petroleum sectors to attract FDIs, says IMF Director of Middle East
Fund ready to help Egypt in the future, says Beblawi
Washington, DC- Thousands of delegates and officials have arrived in Washington, DC, for the spring meetings of the International Monetary Fund (IMF) and World Bank, which is taking place from 8 to 14 April. The spring meetings of the boards of governors of the World Bank Group and the IMF bring together central bankers, ministers of …
Washington DC– IMF has helped the countries through their economic difficulties, said Christine Lagarde Managing Director of the International Monetary Fund (IMF) on Wednesday. Lagarde added that after 75 years of cooperation since the IMF was established systems have changed and adapted from exchange rates of currency to the gold standards system in 70th to reform …
House price hikes in Egypt due to currency devaluation, inflation, correction expected, says IMF’s financial counsellor
Al-Sisi to continue his tour and expected to land in Ivory Coast
Washington DC – Gian Maria Milesi-Ferretti, the deputy director in the Research Department of the International Monetary Fund (IMF), told Daily News Egypt that Egypt’s economy is doing well as it is growing at a very reasonable rate. Milesi-Ferretti noted that, however, it was a difficult moment for emerging markets earlier in 2018 due to capital …
Washington, DC – Egyptian economy will grow by 5.5% this year, the International Monetary Fund (IMF) said in its World Economic Outlook (WEO) April 2019, unchanged from its expectations in October 2018. Further, the IMF expected that the country’s economic growth will reach 5.9% in 2020. However, Egypt’s economic growth forecast was estimated at 6% in …
Authorities to reform its pension system by end of June, new tax regime for SMEs to be approved by parliament
Authorities planning to hedge oil prices, but IMF advised caution, says report
Maintaining reform momentum is essential for job creation, supporting middle class, says IMF Egypt Mission Chief
Egypt, UAE, Lebanon, Jordan host three-fourths of MENAP startups
Our new paper on SME financial inclusion to be launched on Tuesday in Cairo, says Lagarde
Numerous Arab countries strengthening their fiscal frameworks including Egypt, says Lagarde
More difficult external environment poses new challenges on country’s economy, says Lipton
The Executive Board of the International Monetary Fund (IMF) approved the disbursement of $2bn to Egypt as the fifth tranche of its $12 loan, the Minister of Finance, Mohamed Moeit, announced on Monday. So far, Egypt has received $10bn from the extended $12bn loan facility signed in 2016. Moeit said that Egypt is expected to …
Measures include determining fuel pricing mechanism, say sources
The Egyptian government is continuing to work at full capacity to implement the mandate of President Abdel Fattah Al-Sisi in strengthening resources and rationalising spending and interest in investing in human capital and the development of education and health systems, Moeit said.
Insuring commodity imports to avoid budget imbalances remains possible, says Kojak
ERC to be commercially operational in 2019, plans for next phase of growth across the group
Egypt should detain regular reforms regardless of IMF-supported programme