Finance MIn.: Egypt Achieves Highest Primary Surplus of 3.1%
Taarek Refaat
Minister of Finance Ahmed Kouchouk affirmed that the Egyptian economy is developing for the better with positive and ambitious indicators.
During his meeting with Nigel Clark, Deputy Managing Director of the International Monetary Fund (IMF), during his first visit to Egypt, Kouchouk stated that we achieved the highest primary surplus during the period from July to April, at 3.1% of GDP.
He explained that the strong financial performance over the past ten months is driving us to continue the path of economic reform within the framework of a comprehensive and integrated national program.
He noted that we are adopting an advanced approach to managing fiscal policies to stimulate economic activity with more stimulating and effective initiatives.
He added that efforts to empower the private sector have begun to bear fruit, with the sector accounting for 60% of total investments during the first half of the current fiscal year.
The minister explained that we expect a strong return from the positive momentum of the tax concessions package to stimulate efforts to expand the tax base. Tax reform is based on building trust with taxpayers within a framework of partnership and strong support for the business community.
read more
CBE: Deposits in Local Currency Hit EGP 5.25 Trillion
Morocco Plans to Spend $1 Billion to Mitigate Drought Effect
Gov't Approves Final Version of State Ownership Policy Document
Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister
Qatar Agrees to Supply Germany with LNG for 15 Years
Business
Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves
Business
Suez Canal Records $704 Million, Historically Highest Monthly Revenue
Business
Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday
Business
Wheat delivery season commences on April 15
News
Egypt confirms denial of airspace access to US B-52 bombers
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
News
Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content
Arts & Culture
Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized
Sports
Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer
Sports
Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
News
Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies
Arts & Culture
New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Business
Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War
Arts & Culture
Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
38 minutes ago
- See - Sada Elbalad
Pakistan's Amb. to Egypt Meets Alkhidmat Foundation President to Review Humanitarian Relief for Gaza
Rana Atef Pakistan's Ambassador to Egypt Aamir Shouket met on Friday with Dr. Hafeez ur Rahman, President of the Alkhidmat Foundation. Hafeez briefed on his organization's ongoing humanitarian relief activities for Gaza particularly related to Eid-Al-Adha animals' sacrifice carried out in Egypt. The ambassador commended their role and assured continued support for this noble humanitarian cause. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
See - Sada Elbalad
an hour ago
- See - Sada Elbalad
Palestinian Foreign Ministry Welcomes Upgrading Membership to "Observer State" in ILO
Taarek Refaat The Palestinian Ministry of Foreign Affairs and Expatriates welcomed the historic decision adopted by the International Labor Organization (ILO) to upgrade Palestine's membership from "national liberation movement" to "non-member observer state" in the organization, despite the Israeli occupation's attempts to obstruct its adoption. The ministry stated, in a statement carried by the Palestinian News Agency (WAFA) on Friday, that the decision was adopted after years of diplomatic efforts by the ministry and the Permanent Mission of the State of Palestine to the United Nations in Geneva, in cooperation and coordination with relevant authorities. The voting results were a clear majority of 386 votes in favor, 15 against, and 42 abstentions. The Palestinian Ministry of Foreign Affairs indicated that this resolution grants Palestine expanded observer rights in the International Labour Organization (ILO) and upgrades its status to "non-member observer state," in line with its status in the United Nations and UN General Assembly Resolution ES-10/23 of May 2024. This resolution balances Palestine's status in the ILO with its membership in other agencies such as UNESCO and the World Health Organization. The resolution is based on the recommendation of the ILO Governing Body, adopted during its 352nd session in November 2024, which called for strengthening the status and participation of the State of Palestine in the organization's work, including attendance at Governing Body meetings, regional conferences, and technical committees. The Palestinian Ministry of Foreign Affairs and Expatriates appreciated the positions of the countries that expressed their clear support for this resolution, calling on the countries that did not support the resolution and isolated themselves with their negative votes to review their positions and join the moral majority consistent with international law. It emphasized that this step is important to preserve the rights of the Palestinian people, especially in light of the crimes committed by Israel, the illegal occupying power, since the Nakba in 1948. It also emphasized that Palestinian diplomacy continues its efforts on all international levels—political, diplomatic, and legal—to enable the State of Palestine to exercise its full role in all UN and international organizations and enhance its international presence. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
ICE Officers, Deportees Trapped in Djibouti Shipping Container
Taarek Refaat US federal court documents reveal that approximately 12 Immigration and Customs Enforcement officers (ICE) and eight deportees are suffering from illnesses and living in harsh conditions inside a metal shipping container in Djibouti. More than two weeks ago, Boston federal judge Brian E. Murphy halted a deportation flight transporting migrants from Cuba, Vietnam, Myanmar, Laos, and Mexico to South Sudan, ruling that the operation violated his April injunction, which prohibits deporting people to countries other than their home countries without giving them an opportunity to seek humanitarian protection. The judge ordered the responsible authorities to conduct humanitarian protection screenings in accordance with the Convention against Torture. Instead of returning them to the United States, authorities transported the migrants to Djibouti, where a shipping container was converted into a temporary detention center inside the only US military base in Africa, Camp Lemonnier. Melissa Harper, a senior immigration official, testified in court that three officers and eight detainees arrived at the base unprepared for potential hazards, such as extreme temperatures, air pollution, and the security threat from Yemen. She added that the officers were not provided with protective clothing or equipment, despite advance warnings of "an imminent threat of rocket attacks from groups in Yemen." Harper added that daytime temperatures exceed 100 degrees Fahrenheit, while at night, a "dense fog" formed from smoke from burning trash and human waste around the base, causing symptoms of acute respiratory infections in the officers and detainees, such as coughing, difficulty breathing, fever, and joint pain. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
