Soft Launch
 
International community hails the success of Luxor conference held by WCO Policy Commission 07/12/2017
Last Wednesday marked the end of the 78th round of the World Customs Organization Policy Commission’s (WCO PC) conference held at Luxor.

Ministry of Finance is planning to offer coins of 100 million EGP to meet the market needs in the coming period 25/09/2017
Ministry of Finance is preparing to offer amounts of auxiliary coins in markets, its worth exceeds 100 million EGP: 80 million coins of the pound-denominated category, other 40 million coins of the 50 piaster-denominated category and 10 million coins of the 25 piaster-denominated category, doubling the offered in the last fiscal year in order to facilitate coin access for the citizens and different shops that need the small change. A tender was offered to provide such amount of coins in the coming period.

A plan is set to proceed on developing and automating the Public Archiving House (PAH) to safeguard Egypt's economic & social legacy 24/09/2017
Within the framework of the Ministry of Finance's plan to upgrade its affiliated entities and the PAH in particular, Finance Minister Mr. Amr Al-Garhy announced that a central compound linked to the PAH is currently studied to be established at the financial district in the New Administrative Capital.

Finance Minister, Mr. Amr Al-Garhy, Announces Regulations of the New State General Budget 2017/18 27/08/2017
Finance Minister, Mr. Amr Al-Garhy, announced that the general regulations of the new State general budget law 2017/18, ratified recently by President Al-Sisi, grant finance minister the right to use general reserves allocated in the State budget in encountering national necessities, emergencies or other obligations and expenses which were not considered in the preparation of the new budget draft, all as per criteria set by the Cabinet of Ministers.

Review of Moody's Credit Rating Visit to Egypt 20/08/2017
Moody's Credit Rating Agency lately sent a mission to Egypt over 7 to 9 August 2017 in light of its annual creditability rating review of the Egyptian economy.

Fitch: Egypt's Budget, Energy Price Rises Show Fiscal Commitment 12/07/2017
Fitch Ratings-Hong Kong/London-12 July 2017: Egypt's new budget and lower electricity and fuel subsidies demonstrate a continued commitment to fiscal consolidation and economic reform, backed by the country's IMF programme, Fitch Ratings says. Narrowing the fiscal deficit supports Egypt's sovereign credit profile, but significantly reducing the public debt ratio is a multi-year task.

Egypt Signs its 1st International Multilateral Anti-Tax Evasion Agreement in Paris, Announces Vice Minister of Finance for Tax Policies 22/06/2017
Mr. Amr Almonayer, Vice Minister of Finance for Tax Policies, announced that Egypt signed its first international multilateral agreement that aims to put an end to tax evasion worldwide in a way that guaranteeseach country receiving its fair tax revenues from cross-border economic transactions and activities.

Ministry of Finance Sets A General Framework for Application of VAT 04/06/2017
Mr. Amr Almonayar, Vice Minister of Finance for Tax Policies, announced that cooperation protocols were signed between the Egyptian Cinema Industry Chamber (ECIC) and the three Syndicates of Musicians, Cinema and Theatrical professions in order to establish procedures for VAT payment. The move aimed at laying down a fair tax system that encourages voluntarily tax commitment and enhances mutual trust between all community classes and Tax Administration, stressed Finance Minister Mr. Amr Al-Garhy, as quoted

In the Winding up of the Egyptian-Spanish Institutional Twinning Forum aiming to upgrade accountancy and auditing, a new law is enacted for enrollment and accreditation criteria 15/05/2017
Ambassador, Mr. Ayman Alkaffas, Deputy Minister of Finance for External Affairs, made a speech in the winding up session of the Egyptian-Spanish Institutional Twinning Forum organized by the Ministry of Finance under the auspices of Finance Minister, Mr. Amr Al-Garhy.

“If Bond Market Could Decide, Egypt Would Be Set for Upgrade” 11/05/2017
Bloomberg's report on Egypt highlighted that international markets responded positively to the Egyptian economic and financial reforms. This was manifested in the continuous increase of the value of Egypt's dollar bonds issued last January and the subsequent decrease in Egypt's international borrowing costs to reach its lowest levels since 2015. According to Moody's Analytics, the domestic debt got a B2 rating, which is a higher level than the official grade Egypt is expected to have in the next rating upg

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