Mohsen Abdel Razeq

Combating deficit, Finance Ministry proposes raise on gov’t service prices
Business

Combating deficit, Finance Ministry proposes raise on gov’t service prices

Egypt is mulling raising the prices of some 14 government services to generate additional revenue for the state budget, a…
Government to auction off official gifts
Egypt

Government to auction off official gifts

The Ministry of Finance will next week hold a landmark public auction to sell off gifts state officials received from…
Central Bank offers US$800 million in exceptional auction
Business

Central Bank offers US$800 million in exceptional auction

On Wednesday, the Central Bank of Egypt conducted an US$800 million exceptional auction, its second in the last two months,…
Finance Ministry withdraws LE1.3 billion from budget reserve
Business

Finance Ministry withdraws LE1.3 billion from budget reserve

The Finance Ministry has decided to increase state budget allocations for the current fiscal year with LE1.3 billion from the…
Egypt rules out negative impact on Suez Canal from Israeli railway project
Business

Egypt rules out negative impact on Suez Canal from Israeli railway project

Abdel Tawab Haggag, economic advisor to the Suez Canal Authority, on Tuesday ruled out any negative effects on the canal…
Government devises new economic reform program
Business

Government devises new economic reform program

The government has put the final touches on a new economic reform program to resolve the current economic crisis. Government…
Central Bank denies holding $9 billion in secret Mubarak accounts
Business

Central Bank denies holding $9 billion in secret Mubarak accounts

Egypt's Central bank denied on Thursday that ousted Egyptian President Hosni Mubarak has US$9 billion deposited there. Former deputy head…
Govt’s plan to reduce spending unfeasible, say experts
Business

Govt’s plan to reduce spending unfeasible, say experts

The government’s plan reduce spending to offset the budget deficit is unfeasible, conventional and bureaucratic, experts have said. The plan…
Law on maximum wages to become effective in February
Business

Law on maximum wages to become effective in February

The law on a maximum wage for the public sector is to become effective in the beginning of February, an…
Government divided over IMF loan
Business

Government divided over IMF loan

Government officials have issued conflicting statements regarding the economic reform program that was designed in return for a loan of…
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