Overall growth rate rose during the first quarter of the fiscal year (FY) 2014/2015 by 6.8%, registering 1.1% GDP growth.
In the same quarter last year, which was marked by mass protests and street violence following the ouster of former president (...)
The total deficit, according to final indicators for the public budget, reached EGP 255.4bn in fiscal year (FY) 2013/14, equivalent to 12.8% of GDP, compared to EGP 239.7bn, or 13.7% of GDP, in FY 2012/13 according to government figures.
The (...)
The government will expand the tax base to include all activities and income attained as part of the unified investment law currently being prepared, said Finance Minister Hany Kadry Dimian.
In an interview with Al-Borsa, Dimian said the government (...)
Egypt's debt may have reached what some call dangerously high levels but those responsible for the debt are also enjoying the best times they have since the revolution in January three years ago.
This is because the cost of borrowing is down by 4% (...)
Egypt's budget deficit is expected to drop to 10% during the current fiscal year, according to Finance Minister Ahmed Galal. This is opposed to 9.1%, which the government had hoped for prior to the passing of Egypt's minimum income law. The new law (...)
Minister of Finance Ahmed Galal said Islamic bonds' subject has so far received more attention than necessary
(Photo from Centre for International Governance Innovation website)
Laws, legislative rules and regulations governing Islamic bonds will be (...)
Egypt's Islamic Bonds law still suffers from numerous ambiguities, said Ahmed Al-Gabali, Technical Advisor for Islamic bonds at the finance ministry.
Al-Gabali had taken to reviewing the country's Islamic bonds law, in particular that related to the (...)
The National Bank of Egypt (NBE) and the Bank of Alexandria have announced that they will provide EGP 250m to help develop the third stage of Egypt's Taxi Renewal and Renovation Project.
Karim Sus, retail director at NBE, stated during the signing (...)