Egypt is targeting achieving a primary surplus of EGP 591.4 billion, representing 3.5% of the gross domestic product (GDP), in fiscal year (FY) 2024/2025, Minister of Finance Mohamed Maait stated.

Egypt has raised up to $760 million from the tax-free car import initiative since its launch.

Egyptian travelers have brought around 4.6 tons of gold into Egypt since last May.

Egypt is trying to postpone the maturity of some of its domestic debt dues, in an effort to further alleviate burdens on its finances after securing over $50 billion in international aid this year.

Egypt is seeking to raise the private sector’s contribution to the national economy to over 70%, with a focus on boosting local production and exports, Minister of Finance Mohamed Maait stated.

The Egyptian government has released essential goods worth $1.7 billion at ports in the last 10 days.

Egypt has recorded a primary surplus of EGP 193 billion in the last eight months, compared to EGP 41.8 billion over the same period of fiscal year (FY) 2022/2023, Minister of Finance Mohamed Maait stated in a press conference.

Egypt’s recent agreement with the International Monetary Fund (IMF) is expected to trigger further foreign financing worth a total of $20 billion to back the country’s economy, Minister of Finance Mohamed Maait said.

The Egyptian Minister of Finance Mohamed Maait has issued a resolution amending some provisions of the executive regulations of the Customs Law.

Egypt is targeting to raise $6.5 billion from the state's initial public offering (IPO) program until the end of 2024, Minister of Finance Mohamed Maait said.

Egypt’s tax revenues rose by 42% year on year (YoY) in the first seven months of the fiscal year (FY) 2023/2024, Minister of Finance Mohamed Maait unveiled.

The Egyptian cabinet has approved extending the period of the tax-free car import initiative for another three months to widen the beneficiary base, Minister of Finance Mohamed Maait said.

Egypt is studying issuing bonds denominated in Gulf currencies in the coming period, Egyptian Minister of Finance Mohamed Maait said.

The Egyptian Minister of Finance Mohamed Maait has announced several financial incentives and benefits to support the industrial sectors with top strategic priorities.

Egypt is seeking to secure a $500 million loan from several banks before the end of 2023 in a deal that will be backed by the Kuwait-based Arab Investment and Export Credit Guarantee Corporation (Dhaman).

The value of Egypt’s total green investments doubled in fiscal year (FY) 2019/2020 to 30%, compared to the previous FY, with the government targeting to bring this percentage up to 50% in the coming FY.

Egypt is targeting achieving a primary surplus of 2.5% of the gross domestic product (GDP) in fiscal year (FY) 2023/2024, the highest in the country’s history.

Egypt is looking forward to securing new external financing ranging between $1.5 and $2 billion, including $1 billion by issuing Samurai and Panda bonds by the end of 2023.

The Egyptian finance ministry allocated EGP 761 million in the first quarter (Q1) of fiscal year (FY) 2023/2024 to support the private funds and accounts across governorates.

Egypt will disburse around EGP 4 billion in assistance to 744 exporting companies as the third tranche under the sixth phase of the country’s immediate cash payment initiative on August 16th and 17th.