LATEST NEWS

Today Egypt has officially joined the JP Morgan Index for the government bonds of emerging markets (GBI-EM) after consistent efforts and debt issuance and market reforms for almost 3 years

  -This inclusion confirms the confidence of the foreign investment community of Egypt’s improved fundaments and that Egypt is being put on the international radar as an investment destination.   -Today Egypt’s weight in the index is around 1.85% representing 14 Egyptian Bonds with a total value of around USD 26 billion.   -Egypt today […]

“Moody’s” Kept Egypt’s credit rating at “B2” with a stable outlook for the third time respectively during the pandemic, the Minister of Finance announced

Dr Maait also declared the following: A new confidence certificate is given to the Egyptian Economy to assure continuity of financial and economic policies’ success adopted by the government Moody’s has negatively downgraded the credit ratings for more than 50% of the MENA region’s countries Improvement of indicators and continuity of reforms helped to make […]

Presidential Aging Vehicle Replacement Initiative to be given more momentum in upcoming period, Finance Minister announced.

Dr Maait also declared the following: 3000 beneficiaries received their new vehicles. The State’s Public Treasury incurred EGP 73.3 million in value of the Green Incentive. 17,000 new vehicles are planned to be given to beneficiaries during August 2021. Government seeks to facilitate measures and to instantly settle any problems to expand the initiative’s base […]

In carrying out the presidential directives, an open budget for health sector to combat “Covid-19” and secure vaccines, Minister of Finance announced

Health sector’s allocations for FY 2021/2022 hit EGP 275.6 billion, exceeding its constitutional entitlement ratio MoF is fully prepared for any additional appropriations during the Budget’s actual execution EGP 3 billion is secured to purchase vaccines since the offering for contracting until now to immunize citizens against Covid-19 The Government is continuously stimulating the economic […]

Accessing Customs Services through Mobile Phones is Now Available

Importers may add electronic sub-accounts to their customs agents at “Nafeza” e-portal. Continuous coordination is maintained with all bodies to ensure optimal implementation of “Advance Cargo Information” (ACI) system Starting from October 1st, 2021, entry of any inbound cargo shall be banned at seaports, except through ACI system. Issuance of records for importers, exporters or […]

"Electronic budget" helps in achieving economic and developmental objectives, Finance Minister announced.

Instant assessment of public revenues and expenditures contributed to containing repercussions of COVID 19. Government to expand “tech solutions” to ensure sustainability of the updating process of the automated financial systems. MoF aims to enhance efficiency of public spending, control financial performance and promote governance at the State administrative entities. Accomplishing the automation procedures of […]