{"id":552339,"date":"2022-08-29T13:44:36","date_gmt":"2022-08-29T13:44:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/this-evening-more-ambitious-budget-targets-from-maait-chinese-companies-want-to-locally-manufacture-solar-power-plant-components\/"},"modified":"2022-08-29T13:44:36","modified_gmt":"2022-08-29T13:44:36","slug":"this-evening-more-ambitious-budget-targets-from-maait-chinese-companies-want-to-locally-manufacture-solar-power-plant-components","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/29\/this-evening-more-ambitious-budget-targets-from-maait-chinese-companies-want-to-locally-manufacture-solar-power-plant-components\/","title":{"rendered":"THIS EVENING: More ambitious budget targets from Maait + Chinese companies want to locally manufacture solar power plant components"},"content":{"rendered":"

Happy Monday, wonderful people.<\/strong> The slow late-August stretch we thought we were up against has made an about-face, giving us a big news day here at home.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> #1- Maait sets more ambitious target for budget deficit:<\/strong> Egypt\u2019s budget deficit is expected to narrow to 5.6% in FY 2022-2023, Finance Minister Mohamed Maait told reporters today, according to Bloomberg Asharq<\/a>. This figure is a more ambitious target than the 6.1% deficit<\/a> that was originally penciled into the state budget for the current fiscal year. The government has also revised upwards its primary surplus target by 0.1 percentage points to 1.6%.<\/p>\n

#2- A handful of Chinese companies are currently in talks to build a USD 2.3 bn industrial<\/strong> complex to manufacture components for solar power plants<\/strong>, Bloomberg Asharq<\/a>reported, citing four unnamed governmental sources it says have knowledge of the matter. The talks come as the government is pushing to localize industry, the sources say.<\/p>\n

^^We\u2019ll have more details <\/strong>on these stories and others in tomorrow\u2019s edition of EnterpriseAM<\/strong>.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s another hodge-podge day in the international business press:<\/strong> Denmark, Finland and Sweden have all warned Norway that its proposed electricity export cuts undermine the European market, the Financial Times<\/a>writes. The \u201cvery dangerous step and nationalistic\u201d step, according to head of Finland\u2019s network operator, comes as Europe\u2019s energy crises continues to get worse<\/a> with gas prices reaching a record EUR 343 per MWh over the weekend. Meanwhile, the Wall Street Journal<\/a> and CNBC<\/a> are closely watching US markets as concerns mount that the US Federal Reserve will further tighten monetary policy.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n