The Public Prosecution referred fugitive contractor Mohamed Ali to criminal court on Saturday over charges of VAT evasion two weeks after he was sentenced to five years in prison by Tax Evasion Misdemeanor Court. New Cairo Misdemeanor Court still examines...اقرأ المزيد
Egypt’s cabinet denied reports claiming that the government could impose new taxes on the citizens to face the fiscal deficit, the cabinet said in a statement on Friday. “The Ministry [of Finance] has not issued any decisions in this regard,” the...اقرأ المزيد
Egypt’s foreign reserves rose by about $106 million, recording $44.218 billion by the end of April 2019, compared to $44.112 billion by the end of March 2019, according to the Central Bank of Egypt (CBE). The current average of foreign reserves covers...اقرأ المزيد
The International Monetary Fund (IMF) reported that Egypt’s total public debt is projected to continue to shrink to about 74% of the gross domestic product (GDP) by 2022/2023 given the implementation of the economic reform program. The figure is...اقرأ المزيد
The reform of fuel subsidies in Egypt is on track to be completed in the 2018/2019 fiscal year, according to a press release issued by the IMF on Saturday. “The authorities are committed to reaching full cost recovery by the end of 2018/19 for...اقرأ المزيد
Egypt’s foreign reserves rose by $1.4 billion by the end of February 2019 to reach $44.06 billion, compared to $42.6 billion by the end of January 2019, according to the Central Bank of Egypt (CBE). Egypt spends an average of $5 billion monthly on...اقرأ المزيد
Egypt’s top administrative court on Saturday lifted a ban on operations by ride-hailing companies Uber and Careem, which have faced fierce opposition from traditional taxi drivers, a judicial source and lawyer said. A lower administrative court...اقرأ المزيد
Egypt’s foreign reserves dropped by $1.96 billion by the end of December 2018 to reach $42.551 billion, compared to $44.513 billion by the end of November 2018, according to the Central Bank of Egypt (CBE). Deputy Governor of CBE for the Monetary Reserve...اقرأ المزيد
Shares’ net purchases of foreign investors at the Egyptian Exchange jumped to LE 21.98 billion since the flotation of the Egyptian currency, from November 2016 until December 2018, according to Chairman of EGX Mohamed Farid. In November 2016, Egypt...اقرأ المزيد
Egypt’s foreign reserves increased by $12 million by the end of November 2018 to reach $44.513 billion, compared to $44.501 billion by the end of October 2018, according to the Central Bank of Egypt (CBE). Minister of Finance Mohamed Ma’it said previously...اقرأ المزيد