Soft Launch
 
Finance Minister Approves Extending Payment Period for Real Estate Tax up till 15 July 2018 without Getting Fined 05/07/2018
Finance minister, Dr. Mohammed Maait, agrees to extend payment period for real estate tax to 15th of the current July, without levying any extra fines on taxpayers. As ordered by the minister, tax service offices will extend their official working hours up till 10 p.m. all through days of the week, including Saturdays.

Ministry of Finance Issues Preliminary Financial Statement for 2018/19 FY Budget for 3rd Consecutive Year 17/04/2018
Ministry of Finance issued last Saturday, 14th of April, the preliminary financial statement for FY 2018/19 State budget, for the third year in a row. The statement demonstrates the economic structure locally and abroad. It also highlights the presumptions and forecasts the new budget is based on, in addition to the social schemes and policies included in the State budget. Previous implemented polices over past years and their results are also mentioned therein, with a medium term outlook for budget evaluat

Egypt's Debut Euro-denominated Eurobonds, April 2018 16/04/2018
The Egyptian government, as represented by the Ministry of Finance, has succeeded in raising € 2 billion in Eurobond issuance , broken down into two equal tranches (8 - 12 year terms) with significant high returns. No sooner had the announcement been made than considerable purchase requests were registered by a value exceeding 7.5 billion Euros; this is in spite of being the 1st euro-denominated issuance for Egypt.

Ministry of Finance Signs Cooperation Protocol with UNICEF to Ameliorate Social Environment for Egyptian Children 05/04/2018
Ministry of Finance has lately signed a cooperation protocol with the UNICEF in light of Finance Minister, Mr. Al-Garhy, efforts to enhance social security programs for all society categories, including children, and the UNICEF's objective to encourage all countries to increase public budget allocations for children-oriented programs.

Govt's Recently Launched IPO Program 03/04/2018
Within the framework of the ongoing comprehensive reform program adopted by the government, a promising IPO program has recently been announced as a means to expand ownership base, raise additional funds for Egyptian companies, to lure more investments and to optimize the State's assets.

Measures Adopted to Rationalize Public Expenditure and to Tighten Control over Payments to State Employees 02/04/2018
Minister of Finance, Mr. Amr Al-Garhy, issued Circular no. 3, 2018, addressing the State's mechanism towards shifting to the employment of electronic, financial and accounting systems. The said Circular shall be enforced pursuant to the presidential decree no.89, 2017 mandating the establishment of the National Council of Payments and under the Prime Minister's two decisions: no. 123 for 2017 and 2374 for 2017.

Egypt’s budget transparency score jumped to reach 41 points for the first time in six years 30/01/2018
Egypt ranked the 65th among 115 countries included in the Open Budget Survey bi-annually produced by the International Budget Partnership (IBP), compared to the 89th rank among 102 countries in 2015. This rank means that Egypt exceed the MENA regional average of 18 by 23 notches.

On the sidelines of Egypt Day Conference, Finance Minister holds meeting with EFG-Hermes investors to demonstrate Success indicators of reform program 22/01/2018
Finance Minister, Mr. Amr Al-Garhy, held a meeting with delegates of EFG-Hermes group taking part in the second annual running of "EFG-Hermes Egypt Day Conference ". The meeting aimed at building strong relations with different corporations and investment firms and enhancing mutual cooperation among them in all disciplines.

Fitch Revises Egypt's Outlook to "Positive" 17/01/2018
Fitch Ratings has revised the outlook on Egypt's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Positive from Stable and affirmed the IDR at 'B', according to a report released on 16 January.

Issuance of paper government checks is prohibited to be done by special accounts and funds, and financial dues shall be only electronically paid 16/01/2018
The Ministry of Finance has issued a periodical letter, in late 2017, on the accounting treatment of special accounts and funds. It stresses the necessity of speeding the application of final ban on issuance of government paper checks to all special funds and accounts and limiting the payment of financial dues required by these authorities to be done by issuing electronic payment orders through the electronic payment and collection system only.

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