Budget debate moves to the floor of the House: The House of Representatives will be discussing the FY2017-18 in general assembly sessions this week starting tomorrow, AMAY reports. MPs expect to ratify the budget before they go on summer holiday starting 30 June. The new state fiscal year begins 1 July 2017.

The House of Representatives is reportedly studying alternatives to the Contractors’ Compensation Act, since it would cost more than EGP 10 bn to implement and would strain state coffers. This comes even though chatter in the media suggests that the bill, which MPs approved in March, could be coming to a plenary session vote as early as this week.

The Petroleum Ministry is expected to announce the results of its gold exploration tender before the end of this week, according to officials.

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