Finance Minister: Egypt's New Budget to Boost Exports By LE 23BSource: www.export-egypt.com 3/19/2024, Location: Africa |
|
|
|
|
|
Egypt has allocated LE 23 billion to support exports and encourage investors to expand their export activities, Minister of Finance, Mohamed Maait, announced on during an open dialogue with press and media figures about the new budget.
Furthermore, he revealed that the total value of goods released from ports since January has exceeded $14.5 billion. Minister Maait emphasized that the agreement with the International Monetary Fund (IMF) is expected to bring in foreign exchange inflows surpassing $20 billion. Additionally, the European Union's financial package, estimated at €7.4 billion, further bolsters the country's path towards economic stability. In terms of support, Egypt has earmarked LE 596 billion, including over LE 134 billion for food supplies and more than LE 147 billion to support petroleum products. The proposed budget outlines total public expenditures of LE 3.9 trillion, with projected revenues anticipated to reach LE 2.6 trillion. The government has set a target of LE 2 trillion in tax revenues. Minister Maait shared that Egypt aims to achieve a 3.5 percent primary surplus in its GDP for the fiscal year 2024/2025, while also striving to reduce the total deficit to 6 percent of GDP in the medium term. Moreover, the country aims to lower the debt-to-GDP ratio to less than 80 percent over the next three years. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
