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Business
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Economy
12/6/2023 6:53:03 PM
The Egyptian government’s revenues surged 29.5 percent year-on-year to EGP 335.13 billion ($10.83 billion) during the first three months of the fiscal year (FY) 2023/2024, according to data released by the Ministry of Finance.
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Business
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Economy
12/6/2023 2:02:02 PM
Egypt’s budget deficit will increase by one percent in the fiscal year (FY) 2023/2024 to account for 7.1 percent of GDP, up from 6.1 percent in FY2022/2023, due to the increase in debt service payments, according to a report by Investment bank HC Securities and Investment on Wednesday.
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Business
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Economy
12/5/2023 3:12:16 PM
The Central Bank of Egypt (CBE) sold on Monday $990 million in USD-denominated treasury bills (T-bills) with a one-year maturity, according to the bank’s website.
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Business
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Economy
12/4/2023 5:09:23 PM
Egypt’s tax revenue jumped 34.83 percent on an annual basis during the first three months of the new fiscal year (FY) 2023/2024, according to data released by the Ministry of Finance on Monday.
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Business
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Economy
12/4/2023 3:29:52 PM
Egypt’s budget deficit rose to 3.85 percent of GDP during the first quarter (July-September) of FY 2023/2024, up from 2.05 percent in the corresponding quarter in FY 2022/ 2023.
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World
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War in Ukraine
12/4/2023 1:28:09 PM
The White House budget chief warned the US Congress on Monday that failure to agree fresh funds for Ukraine by the end of the year would "kneecap" Kyiv on the battlefield.
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Business
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Economy
11/26/2023 12:12:28 PM
The Egyptian government has announced the allocation of EGP 202 billion for supporting its pension system during the fiscal year (FY) 2023/2024, said Mohamed Maait, minister of finance, according to an official statement on Saturday.
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Business
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Economy
11/13/2023 5:40:00 PM
Egypt’s total budget deficit reached 3.2 percent of GDP or more than EGP 383 billion ($12.4 billion) during the first two months (July and August) of FY2023/2024, according to the Ministry of Finance’s monthly report.
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Business
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Economy
11/13/2023 3:09:42 PM
The Central Bank of Egypt (CBE) auctioned $1.61 billion USD-denominated treasury bills (T-bills) on Monday, reported the CBE website.
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Business
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Economy
11/2/2023 2:04:09 PM
Egypt issued its second batch of Yen-denominated Samurai bonds with a value of ¥75 billion (about $500 million) in a five-year tenor and with a regular dividend of 1.5 percent, Minister of Finance Mohamed Maait said in a statement on Thursday.
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Business
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Economy
10/23/2023 5:01:26 PM
Egypt is planning to issue a batch of $500 million yen-denominated Samurai bonds for the third time before the end of November, according to Minister of Finance Mohamed Maait on Sunday.
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Business
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Economy
10/21/2023 1:56:08 PM
The US budget deficit has widened to $1.7 trillion, government data showed on Friday, in a development that could add pressure on President Joe Biden as he seeks reelection in 2024.
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Business
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Economy
10/12/2023 4:57:31 PM
It is necessary and critical for Egypt to adopt a flexible regime for its exchange rate in order to protect its economy from the external shocks that are continuing to emerge, Jihad Azour, the Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Ahram Online.
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Business
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Economy
10/10/2023 4:03:45 PM
The Central Bank of Egypt (CBE) is expected to reach an agreement with the International Monetary Fund (IMF) in early 2024 to peg the pound to a basket of international currencies and gold, according to Fakhry El-Fiqi, head of the Planning and Budget Committee in the House of Representatives.
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Business
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Economy
10/8/2023 9:47:52 PM
The Central Bank of Egypt (CBE) has accepted EGP 43.05 billion in bids for two issuances on T-bills offered on Sunday.
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World
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International
9/24/2023 10:52:20 AM
President Joe Biden on Saturday blamed "a small group of extreme Republicans" for a budget impasse that has placed the US government a week away from a shutdown, urging the lawmakers to resolve the issue.
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World
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Region
9/21/2023 11:29:32 AM
Quake-hit Morocco's government announced on Wednesday a budget of more than $11 billion for reconstruction, rehousing and socio-economic development of areas hit by the deadly disaster.
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Business
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Economy
9/7/2023 5:37:26 PM
The Egyptian government seeks to collect $1.5 billion in external financing before the end of 2023, Minister of Finance Mohamed Maait stated on Thursday.
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Business
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Economy
9/5/2023 9:23:12 PM
Egypt’s National Dialogue resumed sessions on Tuesday, with the economic committee debating the problems posed by high inflation, rising prices and a budget deficit.
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Business
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Economy
8/30/2023 6:56:39 PM
The Egyptian Cabinet approved issuing a second batch of $500 million yen-denominated Samurai bonds with a five-year tenor by the Ministry of Finance, according to a statement on Wednesday.
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