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Finance ministry working to reduce budget deficit to 3-4% by 2021: El-Garhy

Minister of Finance Amr El-Garhy said during a meeting of the American Egyptian Chamber (AmCham), that the ministry is working to reduce the budget’s deficit to 3-4% by the year 2021, adding that it’s one of the current challenges facing the government. In the meeting held on Sunday, the minister stated that the government has …

Hisham Salah

Ministry of Finance approves final calculation of 2015/2016 public budget with total deficit of 12.2%

Minister of Finance Amr El-Garhy approved the final calculation of the public budget for the fiscal year (FY) of 2015/2016 with a total deficit of 12.2% or EGP 339.5bn, compared to 11.5% in FY 2014/2015. According to the ministry’s statement on Tuesday, public revenues increased by 5.6% to register EGP 491.5bn owing to a boost in tax revenues, as compared to EGP 465.2bn for …

Daily News Egypt

Promises of reform: a story that could end happily, or in disaster

Prime Minister Sherif Ismail and the government have promised a litany of political and legislative reforms that would be implemented in the short term to develop Egypt’s economy and pull it out of its poor state. Debates over the Civil Service Law, the value-added tax, the investment law, as well as the budget deficit, trade …

Hisham Salah