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Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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Le gouvernement prévoit de réduire le déficit budgétaire de 14% à 8% en trois ans

Le gouvernement prévoit de réduire le déficit budgétaire de 14% à 8% en trois ans | Égypt-actus | Scoop.it

The government is trying to shrink state budget deficit from 14 percent to 8 percent in the coming three years, the finance minister said.

In statements on the fringe of a conference organized by the Beltone Financial Holding under the theme of Egypt on the right track, Ahmed Galal said the government implements an economic incentive package.

Forty international investment funds take part in the event.

The government has spent 18 billion EGP within the framework of the first economic incentive package standing at 29 billion EGP.

There is also another economic incentive plan at 30 billion EGP, he said, noting that ordinary people will feel the impact of such plans by the end of the first quarter of 2014.

He also added that the government also seeks decreasing the debt from 92 percent to 80 percent within the coming three years.

He noted that talks are underway with some Gulf states on extending assistance to Egypt, citing the previous 12-billion-dollar aid extended over the past period.

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12 pct budget deficit threatens investment - minister

12 pct budget deficit threatens investment - minister | Égypt-actus | Scoop.it
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A 12 percent deficit in Egypt’s budget fends off investments and contributes to the current hike in inflation, Minister of Planning and International Cooperation Ashraf al-Arabi said on Thursday.

This requires taking certain measures to curb this rise, the minister stated.

Al-Arabi told the state news agency that the country’s budget deficit rose to 12 percent of the gross domestic product (GDP) during June 2012.

Egypt needs around $14.5 billion in soft loans to fill the financial gap, the minister said.

Allocations for energy subsidies alone in the general budget surpass what is spent on health and education, al-Arabi stated, adding that this is unsustainable.

As per the current fiscal year’s budget, Egypt needs to borrow $135 billion to balance the budget.

The government’s external and internal debt by June 2011 reached $1.2 trillion which is 88 percent more than the country’s GDP.

 

This content is from :Aswat Masriya  
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Egypt's budget deficit hits LE91.5 billion: Finance ministry

Egypt's budget deficit hits LE91.5 billion: Finance ministry | Égypt-actus | Scoop.it

Egypt's budget deficit reached LE91.5 billion in the first six months of the current 2012/13 fiscal year that began last July, the Egyptian Ministry of Finance reported on Sunday.

The deficit currently represents roughly 5.1 per cent of the country's total GDP.

The same period last year saw a budget deficit of LE73.8 billion.

The ministry also noted that government revenues had risen by 31.1 per cent from July to December of last year to stand at LE153 billion. This is compared to LE117 billion for the same period in 2011.

 

However, total expenditures have also significantly increased - by 28.4 per cent - in the aforementioned period to LE243 billion. This is compared to LE188 billion for the same period the previous fiscal year.

Subsidies allocated to state-run petroleum company EGPC, meanwhile, also increased by a whopping 50 per cent for the same period, reaching LE53 billion compared to LE35 billion last year.

The Egyptian Ministry of Industry and Foreign Trade expects the budget deficit to reach LE200 billion by the end of 2013.

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Egypt’s Budget Deficit Expected To Reach EGP 188 Bln In FY 2012/13

Egypt’s Budget Deficit Expected To Reach EGP 188 Bln In FY 2012/13 | Égypt-actus | Scoop.it

The Egyptian Minister of Finance El-Morsi El-Sayed Hegazy announced that the state's budget deficit is expected to reach EGP 188 billion in FY 2012/2013.

On the sidelines of the Second Investment Conference on Investment in Public-Private Partnerships, Hegazy said he will meet today with the Ministry’s budget sector to discuss the budget items that will be referred afterwards to the Shura Council by the beginning of next April.

He revealed that the government plans to ration subsidies to save EGP 30 billion as well as restructure the state’s administrative system which has 6.8 million government employees, which is a large number as compared to Turkey’s administrative system, for example, which has 800,000 government employees.

 

More on:http://amwalalghad.com/en/news/egypt-news/15638-egypts-budget-deficit-expected-to-reach-egp-188-bln-in-fy-201213.html

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Egypt's budget deficit widens

Egypt's budget deficit widened to 92 billion Egyptian pounds in the first half of the current fiscal year, compared with 73.3bn pounds a year earlier, the country's planning and international cooperation minister Ashraf El Arabi said today.

 

Government revenue was 153bn pounds, while spending totalled 244 billion pounds, Mr El Arabi said.

 

The widening deficit underscored the challenges confronting President Mohammed Morsi's government as it struggles to appease a population impatient with the lack of gains after the 2011 uprising that ousted Hosni Mubarak, and an opposition that sees the Islamist as having done little more than try to cement the Muslim Brotherhood's hold on power in the Arab world's most populace nation.

 

More on:

http://www.thenational.ae/featured-content/channel-page/business/economy/egypts-budget-deficit-widens

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