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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
11/7/2022 3:36:00 PM
In an exclusive interview, Kristalina Georgieva, the Managing Director of the International Monetray Fund (IMF), told Al-Ahram she is confident that Egypt’s commitment to fiscal prudence under the new IMF-backed programme will contribute to maintaining market confidence and ensuring that public debt-to-GDP is on a downward trajectory, thereby helping to create room to expand the social safety net for vulnerable groups.
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Business
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Economy
1/19/2022 12:59:47 PM
Egypt’s gross local public debt increased to EGP 4.7 trillion (81 percent of the country’s GDP) by the end of FY2020/21, up from the EGP 4.3 trillion reached by the end of FY2019/20, with the government owing 87.8 percent of this total, according to the latest data published by the Central Bank of Egypt (CBE).
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Business
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Economy
12/19/2021 2:21:44 PM
Vitor Gasper, the head of Fiscal Affairs Department at the IMF, discussed in an interview with Ahram Online the implications of the new Global Debt Database figures, which was released on Wednesday, including Egypt’s debt situation.
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Business
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Economy
12/15/2021 6:10:58 PM
Global debt hiked by 28 percent in 2020 to reach $226 trillion (256 percent of world GDP) as a result of the coronavirus crisis, the International Monetary Fund (IMF) stated on Wednesday.
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Business
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Economy
6/10/2021 12:47:01 PM
Okamato said that 60 percent of debt issued in emerging markets after January 2020 has ended up on domestic banks’ balance sheets, which is a concerning matter
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Business
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Economy
4/26/2021 12:33:29 PM
In the past five years, Egypt’s GDP grew to reach EGP 5.9 trillion by the end of FY 2019/20 – up from EGP 3.4 trillion in FY 2016/17, reported the finance ministry
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Business
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Economy
4/7/2021 6:32:57 PM
Mauro told Ahram Online that the Egyptian authorities appropriately relaxed the fiscal stance to address the crisis, announcing a comprehensive and targeted stimulus package in March 2020
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Business
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Economy
4/3/2021 12:07:32 PM
The rebound is set to come on the back of a faster than expected recovery in oil prices
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Business
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Economy
4/2/2021 5:20:34 PM
According to the World Bank, Egypt needs to mobilise its revenues through tapping into its unused assets and reconsidering its taxes system
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Business
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Economy
3/15/2021 12:04:54 PM
The new financial strategy is meant to decrease public debt to GDP ratio to about 70 percent over the coming four years
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World
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Region
3/1/2021 4:55:03 PM
Kuwait is facing a liquidity squeeze because of a standoff between government and parliament over the public debt law
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Business
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Economy
2/4/2021 2:08:23 PM
Egypt’s medium-term strategy will reduce public debt over four years, the director of the IMF’s Middle East and Central Asia department said
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Business
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Economy
2/1/2021 5:07:35 PM
Egypt’s income tax revenues increased to exceed 250 percent between FY 2014/2015 and FY2019/2020, while value-added tax revenues jumped by 200 percent during the same period
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Business
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Economy
1/28/2021 3:12:46 PM
The IMF projects deficits to hover around -13.3% in advanced economies, -10.3% in emerging markets, and -5.7% in developing countries
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Al-Ahram Weekly
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Economy
12/31/2020 9:26:00 AM
The government is overhauling its decades-long problem of ballooning public debt
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Business
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Economy
11/11/2020 9:52:45 PM
The IMF said in a statement that COVID-19 has elevated the debt vulnerabilities in many countries, adding that low-income countries are witnessing changes in the credit landscape
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Business
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Economy
11/11/2020 3:45:23 PM
Mohamed Maait made his comments during his participation in a virtual event that kicked off Monday bringing together UK and Egyptian business representatives
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Business
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Economy
10/6/2020 2:16:51 PM
The IMF says it has provided financing at unprecedented speed and scale to 81 countries, reaching over $280 billion in lending commitments, which is more than a third of that approved since March
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Business
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Economy
9/2/2020 3:28:41 PM
The coronavirus pandemic has rocked the world economy, but Egypt’s position, while impacted, remains sustainable with medium term recovery prospects good, according to the IMF
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