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Obama signed the massive bill, passed by Congress this week in a rare budget truce, in front of officials from his Office of Management and Budget.
The Ministry of Finance releases a report detailing the costs and distribution of the minimum wage over about 4.83 million workers
The kingdom had budgeted for revenues of $221 billion in 2013, and an expenditure of $218.7 billion.
Reuters – Egypt’s current account recorded a surplus in the first quarter of the financial year, boosted by billions of dollars in aid from Gulf Arab states after the army ousted Islamist President Mohamed Morsi in July. The current account ran a surplus of $757 million between July and September, driven by a massive increase in official transfers, according to …
Reuters – Egypt’s current account recorded a surplus of $757 million between July and September, compared with a deficit of $1.26 billion in the same period last year, the central bank said on Thursday. Foreign direct investment in Egypt rose to $1.246 billion in the same period compared with $1.164 billion a year earlier.
Analysts say soaring inflation is due to increasingly tough economic sanctions and mismanagement by former president Mahmoud Ahmadinejad.
Despite the government’s commitment to reduce the budget deficit to nine percent by the end of the current fiscal year, new challenges such as the new minimum income law are emerging.
Meeting in Washington, the officials warned that there were still risks to global economic growth, and that many countries faced “unacceptably high unemployment.”
The discussions are going to be held on Tuesday with the National Council for Wages
59% of increases for government expenditures are for subsidies and debt settlements
Ahmed Galal : interim government is not here to watch things happening
The recurring petrol and diesel crises have left Egypt’s streets paralysed and the people angry. Despite the continuity of the diesel crisis throughout the past months, the petrol crisis is primarily affecting Egyptians from middle and upper classes, a phenomenon unprecedented on the current scale. The government has promised the crisis will end once the new smartcard system is in effect. The Daily News Egypt reviews the new system and asks people about the system’s feasibility and convenience to their needs.
Subsidies for petroleum products totaled 62% of all subsidies for the third quarter, with an additional 31% going towards supply products.
Protesting doctors say they left health ministry camp in order to tend to potential wounded in upcoming protests
Al-Erian: NCW should have condemned same-sex marriage in the UN document
The report predicted that annual inflation rates would increase by the end of this year to 10.8%, compared to 8.4% in the previous fiscal year
The statement comea a few weeks ahead of planned protests for 30 June and amid an already-ailing economy one year into President Mohamed Morsi’s tenure.
Committee chairman: Large amounts are being spent to repair cars while citizens suffer from shortages in medical supplies
CBC offers a new food channel that is strictly for Egyptian tastes.
Representatives call for a report on Interior Ministry spending before deciding to accept or reject a budget increase
Medical professionals are demanding the passing of a staff law that would give them more rights
The government raised the ministry’s budget by around EGP 5 billion
Grave mistake made with regards to Egypt’s public budget, Economic Committee demand those responsible be held accountable
Discussion sessions to last for 8 days
Series published by Egyptian Centre for Economic and Social Rights uses International Budgets Partnership to rate governments according to fiscal transparency
Economic Committee discusses budget for FY 2013-2014
Egyptian Centre for Economic and Social Rights and political parties demand government reveal annual budget proposal before adopting it
Further taxes are expected
Political groups and civil society organizations call on Shura Council to refrain from making any decision regarding 2013-2014 budget before a public discussion
Removed draft budget showed that Egypt’s public spending for 2013-2014 fiscal year was set to reach EGP 616bn