{"id":570837,"date":"2020-04-16T04:37:58","date_gmt":"2020-04-16T04:37:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/"},"modified":"2020-04-16T04:37:58","modified_gmt":"2020-04-16T04:37:58","slug":"egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/","title":{"rendered":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>FinMin sees Egypt\u2019s financing gap at nearly EGP 1 tn next fiscal year: <\/strong>The Finance Ministry needs EGP 988 bn next fiscal year to close the fiscal gap, up 20% y-o-y from the EGP 820 bn <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/18\/financing-gap-to-increase-to-egp-820-bn-in-fy2019-20\/\">projected<\/a> for the ongoing fiscal year, according to the recently-released <a href=\"http:\/\/www.mof.gov.eg\/MOFGallerySource\/Arabic\/budget2020-2021\/Pre-Budget_2020-2021.pdf\">budget forecasts (pdf)<\/a>. The rate of increase is on par with previous years, and the bulk of the gap, nearly EGP 892 bn, will be plugged through local treasury sales. The remainder, EGP 96 bn, will come from eurobonds and loans from foreign institutions. The government will continue its gradual shift to long-term debt, as stated in its <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/10\/finance-ministry-drafts-more-realistic-comprehensive-debt-strategy-raises-egypts-public-debt-targets\/\">debt control strategy<\/a>, and targets an average tenor of 4.4 years by the end of 2020-2021.<\/p>\n<p><strong>Is this the same as the overall deficit? Not quite. <\/strong>The gap is the sum of the deficit (which is forecast to come at EGP 432 bn) and debt due to mature this fiscal year (EGP 555.5 bn).<\/p>\n<p><strong>Our debt servicing bill will come at EGP 566 bn,<\/strong> which is a minor improvement from EGP 569 bn <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/01\/finmin-releases-egypts-draft-fy2019-20-budget\/\">in this fiscal year's projections<\/a>. Only EGP 49 bn of the total will go toward servicing loans from abroad.<\/p>\n<p><strong>Interest spending is again the largest single item in the budget<\/strong>, accounting for nearly 33% of this fiscal year\u2019s total expenditures, and just over 36% in last year\u2019s projected spend. The draft budget expects that as the CBE resumes its monetary easing cycle, every 100 bps point rate cut would lead to EGP 10-12 bn in interest savings.<\/p>\n<p><strong>Other noteworthy figures in the forecast:<\/strong><\/p>\n<ul>\n<li><strong>Tax collection is expected to grow 12.6% y-o-y to EGP 964.8 bn, <\/strong>accounting for close to 78% of overall revenues (EGP 1.28 tn);<\/li>\n<li><strong>Revenue from customs, meanwhile, could fall 13.9% y-o-y to EGP 44 bn, <\/strong>and Suez Canal revenues could also dip in case of a contraction in global trade;<\/li>\n<li><strong>Government investments are forecast to rise substantially to EGP 281 bn, <\/strong>up 33% from EGP 211 bn in FY 2019-2020 forecasts.<\/li>\n<\/ul>\n<p><strong>Draft budget outlines covid-19 worst case scenario: <\/strong>If the covid-19 outbreak isn\u2019t contained before the start of the fiscal year in July, the budget deficit could grow to 7.7% of GDP, instead of narrowing to the targeted 6.3%, as revenues tied to economic activity could fall short of targets by up to 25%, according to a more conservative scenario outlined in the budget. In this scenario, the primary surplus will also likely come at 0.5-0.6%, down from the project 2% and resulting in a public debt to GDP ratio of 84.5 by June 2021, up from a target of 82.8%.<\/p>\n<p><strong>The ministry has left its growth projections in the budget unchanged at 4.5%<\/strong>, but made it clear that it could revisit them as the covid-19 situation becomes clearer, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">we noted earlier this week<\/a>.<\/p>\n<p><strong>Meanwhile, RenCap thinks Egypt\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0557143-d132-4f80-a888-edd3c67085c5\">expectation of 1% growth<\/a><\/strong><strong> in the current quarter might <\/strong><strong>be \u201ca bit optimistic,\u201d <\/strong>according to a research note by Ahmed Hafez, head of MENA research at the investment bank. \u201cAssuming a 20% drop in non-essential private demand, a 23% decline in exports, an 8% drop in imports and leaving all else constant, our numbers suggest a 4% y-o-y drop in real GDP, should restrictions last until the end of May,\u201d Hafez writes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FinMin sees Egypt\u2019s financing gap at nearly EGP 1 tn next fiscal year: The Finance Ministry needs EGP 988 bn next fiscal year to close the fiscal gap, up 20% y-o-y from the EGP 820 bn projected for the ongoing fiscal year, according to the recently-released budget forecasts (pdf). The rate of increase is on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":570838,"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":[8572],"tags":[2653,107,7106,72,276,4951,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budgeting","tag-covid-19","tag-debt","tag-enterpriseam","tag-finance-ministry","tag-fiscal-indicators","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"534d27dd-1a99-4ffd-8382-86ca774067ea","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/4\/153.jpg","photo_position":"above","related_issue":[570832],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget - 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\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget\" \/>\n<meta property=\"og:description\" content=\"FinMin sees Egypt\u2019s financing gap at nearly EGP 1 tn next fiscal year: The Finance Ministry needs EGP 988 bn next fiscal year to close the fiscal gap, up 20% y-o-y from the EGP 820 bn projected for the ongoing fiscal year, according to the recently-released budget forecasts (pdf). The rate of increase is on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-16T04:37:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget\",\"datePublished\":\"2020-04-16T04:37:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\"},\"wordCount\":521,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budgeting\",\"covid-19\",\"debt\",\"EnterpriseAM\",\"Finance Ministry\",\"fiscal indicators\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\",\"name\":\"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2020-04-16T04:37:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/","og_locale":"en_US","og_type":"article","og_title":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget","og_description":"FinMin sees Egypt\u2019s financing gap at nearly EGP 1 tn next fiscal year: The Finance Ministry needs EGP 988 bn next fiscal year to close the fiscal gap, up 20% y-o-y from the EGP 820 bn projected for the ongoing fiscal year, according to the recently-released budget forecasts (pdf). The rate of increase is on [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2020-04-16T04:37:58+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget","datePublished":"2020-04-16T04:37:58+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/"},"wordCount":521,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1","keywords":["budgeting","covid-19","debt","EnterpriseAM","Finance Ministry","fiscal indicators","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/","url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/","name":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1","datePublished":"2020-04-16T04:37:58+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/16\/egypts-financing-gap-forecast-at-nearly-egp-1-tn-fy-2020-21-budget\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Egypt\u2019s financing gap forecast at nearly EGP 1 tn- FY 2020-21 budget"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/153.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":598497,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/27\/finmin-looking-to-narrow-egypts-financing-gap-to-egp-720-bn-next-fiscal-year\/","url_meta":{"origin":570837,"position":0},"title":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year","author":"enterpriseam admin","date":"27 May 2019","format":false,"excerpt":"FinMin looking to narrow Egypt\u2019s financing gap to EGP 720 bn next fiscal year -Kouchouk: The Finance Ministry is working to trim EGP 100 bn off Egypt\u2019s forecasted budget deficit in FY2019-2020 to EGP 720 bn, Vice Minister of Finance Ahmed Kouchouk tells Al Shorouk. According to Kouchouk, the ministry\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":603312,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/18\/financing-gap-to-increase-to-egp-820-bn-in-fy2019-20\/","url_meta":{"origin":570837,"position":1},"title":"Financing gap to increase to EGP 820 bn in FY2019-20","author":"enterpriseam admin","date":"18 April 2019","format":false,"excerpt":"EXCLUSIVE- Egypt\u2019s financing gap is expected to widen to EGP 820 bn in FY2019-20: The Finance Ministry expects the budget deficit to reach EGP 820 bn in FY2019-20, up from EGP 715 bn in the current fiscal year, which is set to end on 30 June, a senior government official\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/1797.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561902,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/finmin-releases-egypts-draft-fy2021-22-budget\/","url_meta":{"origin":570837,"position":2},"title":"FinMin releases Egypt\u2019s draft FY2021-22 budget","author":"enterpriseam admin","date":"26 April 2021","format":false,"excerpt":"FinMin publishes draft budget as House pushes on with its discussion: The Finance Ministry released yesterday its draft FY2021-2022 budget (pdf), which is under discussion at the House of Representatives after earning cabinet sign-off last month. MPs need to approve the draft before the start of the fiscal year on\u2026","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594687,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/egypts-reform-program-is-nearly-over-as-fy2018-2019-results-show-fiscal-improvements-maait\/","url_meta":{"origin":570837,"position":3},"title":"Egypt\u2019s reform program is nearly over as FY2018-2019 results show fiscal improvements -Maait","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Egypt\u2019s reform program is nearly over as FY2018-2019 results show fiscal improvements -Maait: Egypt is set to complete its economic reform program soon, and the country\u2019s improved macroeconomic indicators and better-than-expected fiscal performance in FY2018-2019 confirm that the reforms are on the right track, Finance Minister Mohamed Maait said yesterday\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664464,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/30\/financing-gap-set-to-rise-over-25-next-fiscal-year-to-egp-3-6-tn\/","url_meta":{"origin":570837,"position":4},"title":"Financing gap set to rise over 25% next fiscal year to EGP 3.6 tn","author":"enterpriseam admin","date":"30 April 2025","format":false,"excerpt":"The widening requirements are attributed to a fall in non-tax revenues coupled with increased social spending","rel":"","context":"In &quot;BUDGET WATCH&quot;","block_context":{"text":"BUDGET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/budget-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/416.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664318,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/28\/debt-repayment-obligations-to-rise-c-30-to-egp-2-1-tn-next-fiscal-year\/","url_meta":{"origin":570837,"position":5},"title":"Debt repayment obligations to rise c. 30% to EGP 2.1 tn next fiscal year","author":"enterpriseam admin","date":"28 April 2025","format":false,"excerpt":"The Finance Ministry also intends to issue local debt worth EGP 1.49 tn in the upcoming fiscal year","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/3\/31.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\/570837","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=570837"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570837\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570832"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570838"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570837"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570837"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}