Finance Minister Amr El Garhy has postponed his Tuesday budget discussion at the House of Representatives to mid-March as he will be out of Egypt, Al Borsa reports without detailing where El Garhy is traveling. The Finance Ministry is expected to deliver a draft of the FY2017-18 budget to the House by the end of March.

Reports last week had also said that El Garhy was due before the House Economic Committee on Monday and Tuesday to talk about the Investment Act, alongside Central Bank Governor Tarek Amer. The bill is expected to come to a vote before the House as a whole by the end of March.

A World Bank delegation is due in town in the first half of March to evaluate the economic reforms and negotiate further loans as Egypt anticipates receiving the next tranche of the USD 3 bn development loan sometime soon.

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