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Business
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Economy
5/25/2023 2:57:12 PM
Egypt's GDP growth is expected to increase to 4.8 percent in FY 2023/24, up from 4.4 percent in the current FY, according to the African Economic Outlook 2023.
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Business
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Economy
5/12/2023 4:21:56 PM
Egypt's Minister of Finance Mohamed Maait was in the hot seat on Wednesday and Thursday to respond to attacks he faced from MPs on what what they perceived as an "alarming increase in debt service costs and a widening of the budget deficit."
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Business
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Economy
5/9/2023 3:16:58 PM
Egypt’s government has increased its budget deficit estimate to 6.9 percent of GDP for the fiscal year (FY) 2023/2024, which starts on 1 July, compared to an earlier estimate of 6.3 percent, Minister of Finance Mohamed Maait stated in front of the House of Representatives on Tuesday.
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Business
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Economy
4/27/2023 8:28:56 PM
The Central Bank of Egypt (CBE) auctioned on Thursday treasury bills (T-bills) worth EGP 39.5 billion ($1.28 billion) on Thursday, divided into two issues, to fund the budget deficit.
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Business
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Economy
4/10/2023 10:26:19 PM
The average yields on 91-day and 273-day Egyptian T-bills increased by 0.012 percent on Monday, compared to a week earlier, according to data released by the Central Bank of Egypt (CBE).
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Business
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Economy
4/9/2023 12:54:33 PM
The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) worth EGP 40 billion ($1.30 billion) on Sunday, divided into two issues.
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Business
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Economy
3/6/2023 3:17:57 PM
Egypt’s budget deficit rose to four percent of gross domestic product (GDP) during the first half (1H) of FY 2022/2023 (July-December 2022) to over EGP 367 billion, stated a report by the Ministry of Finance on Monday.
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Business
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Economy
2/13/2023 2:39:38 PM
Egypt is adopting an economic reform trajectory that contributes to supporting its financial discipline and decreasing debt to GDP ratio and budget deficit, Minister of Finance Mohamed Maait told the Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on Monday.
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World
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Region
1/24/2023 5:45:49 PM
The UN agency for Palestinian refugees, UNRWA, appealed Tuesday for $1.6 billion for its work in 2023, as it struggles to overcome chronic budget shortfalls.
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World
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Region
12/27/2022 3:29:49 PM
Tunisia's finance minister unveiled a budget Monday aiming to use new tax revenues to claw the deficit back to near five percent of GDP, as the cash-strapped country awaits an international bailout.
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Business
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Economy
11/27/2022 8:26:30 PM
The Central Bank of Egypt offered on Sunday Egyptian pound-backed treasury bills (T-bills) with a total value of EGP 28.5 billion over two maturity types.
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World
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War in Ukraine
10/25/2022 2:18:02 PM
Ukrainian President Volodymyr Zelensky on Tuesday asked the international community to cover an expected budget deficit of $38 billion next year for his war-torn country, with Moscow's invasion also badly hitting the economy.
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Business
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Economy
10/23/2022 10:26:57 PM
Finance Minister Mohamed Maait said on Sunday that Egypt aims to cut the public budget deficit to only four percent; a figure that has not been achieved for 42 years.
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Business
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Economy
9/14/2022 2:33:28 PM
Egypt’s economy has tripled in size over the past six years despite the economic challenges, Minister of Finance Mohamed Maait told the Korean Ambassador in Egypt Hong Jin-wook on Wednesday during a meeting at the finance ministry headquarters in the presence of a delegation of Korean investors.
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Al-Ahram Weekly
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Egypt
8/31/2022 9:54:00 AM
Finance Minister Mohamed Maait slams foreign reports which claim Egypt is facing a financial crisis, reports Al-Ahram Weekly.
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Business
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Economy
8/29/2022 10:31:13 PM
Egypt has pledged to the International Monetary Fund (IMF) to attain the overall budget deficit at six percent of GDP and to raise the initial surplus by 1.6 percent in FY 2022/2023, Minister of Finance Mohamed Maait said on Monday.
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Egypt
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Urban & Transport
7/25/2022 2:19:32 PM
Minister of Transportation Kamel El-Wazir revealed on Sunday evening that the ministry is conducting a study to implement “a small increase” in the fares for the Cairo Metro and railway trains, as the ministry is attempting to reduce a large budget deficit due to the increase in expenses amid global inflation.
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Business
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Economy
6/27/2022 6:34:14 PM
Egypt is expected to attain a 6.2 percent in real GDP growth by the end of the current FY2021/22 — which will conclude by the end of June — with an expected 1.2 percent of GDP in primary surplus and 6.2 percent in budget deficit, according to Minister of Finance Mohamed Maait.
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Business
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Economy
6/4/2022 10:33:33 PM
Egypt plans to issue its first sukuk (Islamic sovereign bonds) in the upcoming FY2022/2023 with a key objective of financing the budget deficit, Minister of Finance Mohamed Maait told Ahram Online.
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Al-Ahram Weekly
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Economy
3/29/2022 8:34:20 PM
Egypt is borrowing in Japanese yen in an effort to diversify its foreign currency resources, writes Doaa A. Moneim
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