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Move is to fill chronic budget deficit during Q1 of FY 2020/21
Amendments will also see improved tax brackets and across the board tax savings for all social segments
According to a ministry statement on Wednesday, the decision comes as part of amendments to some provisions of the executive regulations under the Income Tax Law.
Total of EGP 5.2bn provided to exporting companies from July 2019 to May 2020
Customs Authority will grant “certified economic operator” label to those it deals with, says ministry statement
20 T-Bill offerings worth EGP 203bn will be issued, along with 10 bond offerings worth EGP 34bn
Ministry looks to diversity funding sources to reduce cost of borrowing
EgyptAir and subsidiaries greatly impacted by halt in global air traffic, with revenues grinding to complete halt
In a statement on Thursday, Maait said the emergency support will help the government finance those sectors that have been most impacted, including the health sector, and enhance social protection programmes.
Government plans to offer EGP 610bn worth debt instruments in 4Q FY2020
EGP 4bn directed to meet basic food commodities needs, EGP 15bn to buy wheat from local farmers
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
MSMEDA given five years, administrative detention stopped
Interest rates to slightly decrease by end of FY2019/20, says report
The allocations for General Authority for Supply Commodities includes $970.2m letters of credit to import 4.158 tonnes of wheat.
Cabinet agrees to issue $500m green bonds, $5bn international bonds in FY 2019/20, says Kouchouk
This aims to ensure the sustainability of the quality of performance, speed, and accuracy of delivery in a manner that reduces the customs release time and costs of clearance. It also targets improving Egypt’s ranking in the World Bank’s “Logistics Performance Index” which will coincide with better facilitating cross-border trade.
Interest cuts will not affect attractiveness of government debt instruments, says Kouchouk
Accepted offers registered at EGP 5.8bn, yield less than 14.5%
By 2030, Egypt will be among 10 economic tigers, due to its rapid economic growth, says finance minister
First portion of EGP 1bn financial package for Sovereignty Fund already transferred
Digital transformation is one of the pillars that promote the economic GDP growth, says finance minister Moeit
The ministry added in a press statement, on Saturday, that this law aims to improve the growth structure and raise its rates, which will subsequently provide more job opportunities for youth.
Ministry is issuing 16 offerings of EGP 151bn worth T-Bills and 8 T-Bonds offerings of EGP 9.75bn
“We asked government to send e-commerce draft law for discussion, to be ready by November,” says MP
T-Bills due between July 2019 and June 2020
Finance Ministry borrowed about EGP 184bn in T-Bills, T-bonds in April, about EGP 148bn in May
Ministry, JICA to ink MoU for future cooperation in health, energy
The Ministry of Finance reduced the customs dollar exchange rates for non-essentials goods to EGP 17.24 in May, down from EGP 17.385 April, while keeping its price unchanged at EGP 16 for strategic commodities, the ministry announced on Wednesday. In December 2018, Egypt announced ending the discounted customs exchange rate for some imported goods, which …
EGP 1.158tn balance of T-Bills, EGP 694.4166bn T-Bonds, international bonds by $23.21bn and $4bn: Finance Ministry