{"id":559198,"date":"2021-01-13T03:49:22","date_gmt":"2021-01-13T03:49:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/"},"modified":"2021-01-13T03:49:22","modified_gmt":"2021-01-13T03:49:22","slug":"cloudy-with-a-chance-of","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/","title":{"rendered":"Cloudy with a chance of\u2026"},"content":{"rendered":"

<\/a> EXCLUSIVE- Expect to see revised GDP growth targets for the current fiscal year<\/strong> sometime this month<\/strong> as the Finance Ministry takes stock of economic performance in 1H2020-2021 and amends the full-year expectations accordingly, Finance Minister Mohamed Maait told Enterprise. The ministry will not make legal amendments to the state budget, and will only announce the revised figures and targets to give an indicator of where things are headed, Maait said.<\/p>\n

And when the revised figures are laid out, don\u2019t take them as scripture.<\/strong> The changes in conditions are \u201cextremely sharp\u201d and it\u2019s near impossible to accurately predict point figures, Maait said.<\/p>\n

The figures laid out in the state budget \u201care not expected to be met\u201d in the midst of the unpredictability <\/strong>and volatility of global conditions, Maait said. The budget had originally set<\/a> GDP growth expectations for FY2020-2021 at 6.4% but this figure was revised several times as the pandemic took hold and wouldn\u2019t go away. Maait most recently said the economy is likely to grow between 2.8% and 3.5%<\/a> this fiscal year. The IMF\u2019s projection<\/a> earlier this week that we\u2019ll close out FY2020-2021 with a 2.8% growth rate is quite positive if we look at the bigger picture, with tourism still at a standstill and aviation barely seeing any activity, the minister told us.<\/p>\n

As for the next fiscal year, the ministry hasn\u2019t decided whether to renew its oil hedging contracts. <\/strong>\u201cWe don\u2019t know what oil prices are going to look like. Nobody really knows and the price changes are too volatile right now to even discuss,\u201d Maait said.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Expect to see revised GDP growth targets for the current fiscal year sometime this month as the Finance Ministry takes stock of economic performance in 1H2020-2021 and amends the full-year expectations accordingly, Finance Minister Mohamed Maait told Enterprise. The ministry will not make legal amendments to the state budget, and will only announce the […]<\/p>\n","protected":false},"author":1,"featured_media":559199,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7413],"tags":[279,72,276,3645,348,277],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget-watch","tag-budget-watch","tag-enterpriseam","tag-finance-ministry","tag-fy-2021-2020-budget","tag-gdp","tag-mohamed-maait","wpautop","entry"],"acf":{"mongo_id":"8f51fda6-90fd-4d82-83c1-05f59a067630","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/142.jpg","photo_position":"above","related_issue":[559192],"teaser":"","voice_url":""},"yoast_head":"\nCloudy with a chance of\u2026 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cloudy with a chance of\u2026\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Expect to see revised GDP growth targets for the current fiscal year sometime this month as the Finance Ministry takes stock of economic performance in 1H2020-2021 and amends the full-year expectations accordingly, Finance Minister Mohamed Maait told Enterprise. The ministry will not make legal amendments to the state budget, and will only announce the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-13T03:49:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/142.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cloudy with a chance of\u2026\",\"datePublished\":\"2021-01-13T03:49:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\"},\"wordCount\":271,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/142.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budget watch\",\"EnterpriseAM\",\"Finance Ministry\",\"FY 2021-2020 budget\",\"GDP\",\"Mohamed Maait\"],\"articleSection\":[\"BUDGET WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/cloudy-with-a-chance-of\/\",\"name\":\"Cloudy with a chance of\u2026 - 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The document makes explicit that the ministry will revisit its growth\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602165,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/20\/egypt-targets-budget-deficit-of-7-2-in-fy2019-20\/","url_meta":{"origin":559198,"position":1},"title":"Egypt targets budget deficit of 7.2% in FY2019-20","author":"enterpriseam admin","date":"20 March 2019","format":false,"excerpt":"Gov\u2019t is targeting 6.1% economic growth in its next fiscal year: The government is targeting a budget deficit of 7.2% of GDP and a GDP growth of 6.1% in FY2019-20, Finance Minister Mohamed Maait said yesterday, according to Reuters. 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The overall deficit fell short of ministry forecasts of 7.2% of GDP at the end of the fiscal year, but is still an improvement\u2026","rel":"","context":"In "BUDGET WATCH"","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603267,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/preliminary-figures-show-gdp-growth-at-5-6-in-1h2018-19\/","url_meta":{"origin":559198,"position":4},"title":"Preliminary figures show GDP growth at 5.6% in 1H2018-19","author":"enterpriseam admin","date":"17 April 2019","format":false,"excerpt":"Egypt\u2019s GDP grew 5.6% in 1H2018-19, up from 5.3% during the same period last year, according to preliminary Planning Ministry figures announced to the House of Representatives by Finance Minister Mohamed Maait,according to \u0650Ahram Gate. Growth was primarily driven by the gas, ICT, and construction sectors, Planning Minister Hala El\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571283,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/budget-deficit-could-widen-to-7-8-due-to-covid-19-maait\/","url_meta":{"origin":559198,"position":5},"title":"Budget deficit could widen to 7.8% due to covid-19 -Maait","author":"enterpriseam admin","date":"6 May 2020","format":false,"excerpt":"Budget deficit could widen to 7.8% due to covid-19 -Maait: Egypt\u2019s budget deficit could widen to 7.8% of GDP in FY2020-2021 if the covid-19 pandemic continues until the end of the year, Finance Minister Mohamed Maait warned yesterday. The government currently expects to narrow the deficit to 6.3% in FY2020-2021.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/5\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559198"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559198\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559199"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559198"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559198"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}