budget deficit

Minister: Govt to reduce energy subsidies before FY2014/2015
Business

Minister: Govt to reduce energy subsidies before FY2014/2015

Minister of Planning and International Corporation Ashraf al-Araby announced that the government is aiming to reduce energy subsidies before FY2014/2015,…
Egypt narrows budget deficit in 8 months due to aid from Gulf countries
Business

Egypt narrows budget deficit in 8 months due to aid from Gulf countries

Egypt’s overall budget deficit narrowed to LE123.6 billion (US$17.79 billion) in 8 months from 2013 to 2014 from LE146.5 billion,…
Euromoney chairman ‘confident’ Egypt economy can recover
Egypt

Euromoney chairman ‘confident’ Egypt economy can recover

The 19th annual Euromoney conference will be held on 11 November in cooperation with Al-Masry Al-Youm. One of the biggest…
Ministry of Finance: Total budget deficit at LE239.9bn
Business

Ministry of Finance: Total budget deficit at LE239.9bn

Egypt's total budget deficit hit LE239.9 billion during fiscal year 2012-2013, representing 13.8 percent of the country's GDP, according to…
UAE transfers US$ 3 billion to Egypt
Business

UAE transfers US$ 3 billion to Egypt

Central Bank of Egypt (CBE) Governor Hesham Ramez said the United Arab Emirates on Thursday transferred US$3 billion to the…
Egypt’s new finance minister faces daunting task
Egypt

Egypt’s new finance minister faces daunting task

Egypt's new finance minister is a U.S.-educated economist who will need all his training to help pull his country out…
The performance of the Egyptian economy under Morsy
Business

The performance of the Egyptian economy under Morsy

Mohamed Morsy, Egypt's first elected president since the 25 January 2011 uprising, has been in power for 12 months. His…
Govt warns of high poverty, unemployment as budget released
Business

Govt warns of high poverty, unemployment as budget released

The government announced a LE820.1 billion budget for fiscal year 2013/2014 on Tuesday that will grow the state's deficit to…
IMF and Egypt: No news is more of the same
Business

IMF and Egypt: No news is more of the same

In a statement released on 21 April, the International Monetary Fund said that its Managing Director Christine Lagarde met with…
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