Mohamed Maait

Sisi calls for achieving financial discipline in State budget

Tue, 26 Apr 2022 - 11:09 GMT

President Abdel Fattah El Sisi has ordered continuing work to achieve the financial discipline of the State budget while taking all measures to ensure maintaining the State's safe financial and economic track.

Finance min.: Egypt only country in Middle East, Africa to retain global assessment institutions’ ratings

Fri, 22 Apr 2022 - 01:34 GMT

Egypt’s Minister of Finance Mohamed Maait said Egypt has been the only country in the Middle East and Africa to retain the confidence of the three international assessment institutions of Fitch Ratings, S&P Global Ratings, and Moody’s.

Egypt managed to overcome fallout of current global economic crisis: Min.

Fri, 08 Apr 2022 - 01:29 GMT

The Egyptian government has launched a financial package worth LE 135 billion as per presidential directives to mitigate the impact of the global impact of the Ukraine crisis on people and economic sectors, Finance Minister Mohamed Maait said.

Investments financed by public treasury hit LE82B within 6 months

Wed, 19 Jan 2022 - 01:00 GMT

Maait said In a statement issued, Wednesday, that the needs of supporting food commodities were funded by about LE 26.9 billion.

Tax evasion campaigns continue, says Maait

Thu, 30 Dec 2021 - 06:11 GMT

He expounded that magnifying revenues would reduce the budget deficit, public debt and inflation rates.

Egypt aims to increase tax revenues by 2% of GDP in 4 years

Wed, 24 Nov 2021 - 06:19 GMT

Maait clarified that this is the result of the careful implementation of harmonious and balanced financial and economic policies.

Maait: Over LE 24B allocated to health sector to face Covid-19

Wed, 13 Oct 2021 - 07:11 GMT

Finance Minister Mohamed Maait said that over 24 billion Egyptian pounds were provided to the health sector to face Covid-19 pandemic and nearly 47 billion Egyptian pounds were allocated to the education sector to support the education system.

Egypt prepares to issue its first sovereign sukuk in H2 of 2021-2022

Tue, 24 Aug 2021 - 12:47 GMT

He pointed out that the timing, size and type of offering will be determined later.

LE16.4B disbursed in 2 phases of "immediate payment to exporters" initiative: FinMin.

Sun, 11 Jul 2021 - 01:21 GMT

Since the beginning of the implementation of the initiatives to return the “arrears” of the dues of the exporting companies in October 2019 so far, the exporting companies have been supported with LE 28 billion; It is a support that was not previously allocated to the export sector, reflecting the state's keenness to stimulate exports.

Egypt's real estate transaction tax achieves LE7B annually

Tue, 29 Jun 2021 - 03:47 GMT

Maait added that the real estate tax is one of the oldest types of taxes in the legislative system, noting that it is a tax imposed when real estate is disposed of by sale, and the burden of which is borne by the seller, not the buyer.

Dry port project to be floated Tuesday, says minister

Mon, 28 Jun 2021 - 01:51 GMT

The port and center, to be built over 250 feddans, are meant to maximize the contribution of the private sector to development projects, Maait said in a statement Monday.

IMF's conclusion of 2nd review of economic program attests to strong performance of economy - Maait

Thu, 24 Jun 2021 - 04:03 GMT

We are moving ahead with our reform and development march through achieving a balance and flexibility among the adopted financial and economic policies, Maait said in a statement Thursday.

Finance minister: We work on studying int'l experiment on issuing "sustainable development bonds"

Sun, 06 Jun 2021 - 04:40 GMT

Maait said the aim of issuing Sukuks is to finance the state general budget, as well as investment and development projects included in the budget.

Finance Minister issues bylaws of Unified Tax Act

Sun, 06 Jun 2021 - 03:24 GMT

It is part and parcel of a national project to build a comprehensive digital administrative system, the minister said.

Finance min. reviews Customs Authority's efforts over past period

Tue, 01 Jun 2021 - 03:43 GMT

Maait called on the customs officials to continue their duties and facilitate the procedures in a way that beefs up investments.

Egypt to decrease budget deficit to 4.6% in 2023/24

Sun, 30 May 2021 - 11:34 GMT

These indicators come in the ministry’s plan to gradually improve the economic indicators in the economic indicators.

Egypt expected to receive in June last tranche of IMF $5.2 billion loan: Minister

Fri, 28 May 2021 - 07:44 GMT

Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today.

Egypt records primary surplus of LE48B within 10 months

Wed, 26 May 2021 - 01:50 GMT

Maait noted that the state recorded an initial surplus of LE 48 billion during July-April period despite the negative repercussions of the Corona crisis on economic activity, referring to the provision of additional financing of LE 31 billion for the implementation of projects.

Egypt records 20% decrease in debt rate within 3 years despite coronavirus

Tue, 25 May 2021 - 02:47 GMT

The Egyptian Minister of Finance Mohamed Maait, confirmed Tuesday, that the reduction of debt is greatly reflected on citizens in improving their daily lives, increasing investments, creating job opportunities and improving the services provided to them at the level of the Republic.

Egypt projects GDP of LE 6.4T in 2020/2021

Mon, 24 May 2021 - 11:05 GMT

Minister of Finance clarified that this comes as a result of the expansion of development investments that reflect the success of the state, in achieving a balance between preserving the health of citizens and turning the wheel of the national economy.

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