{"id":572429,"date":"2020-06-24T04:18:38","date_gmt":"2020-06-24T04:18:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/24\/finmin-to-lay-out-plans-to-tighten-state-purse-strings-next-fiscal-year\/"},"modified":"2020-06-24T04:18:38","modified_gmt":"2020-06-24T04:18:38","slug":"finmin-to-lay-out-plans-to-tighten-state-purse-strings-next-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/24\/finmin-to-lay-out-plans-to-tighten-state-purse-strings-next-fiscal-year\/","title":{"rendered":"FinMin to lay out plans to tighten state purse strings next fiscal year"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>FinMin to lay out plans to tighten state purse strings next fiscal year:<\/strong> The Finance Ministry is working on proposals to trim state spending in the upcoming fiscal year, which begins on 1 July, the <a href=\"https:\/\/bit.ly\/37SSjUZ\">local press<\/a> reports, citing unnamed government officials. The proposed steps include slashing funding that goes into so-called \u201cspecial funds,\u201d as well as trimming allocations for expenses like travel and conferences, which will likely be limited due to social distancing measures. The officials also noted that the \u201ccorona tax\u201d the Madbouly Cabinet introduced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6e8865f7-5cd2-4c12-9ce9-ed5dcdbd6d18\">last month<\/a> \u2014 which would, if passed by the House of Representatives, dock 1% from all employees\u2019 salaries and 0.5% from state pensions during FY2020-2021 to help fund efforts to contain the spread of the virus \u2014 would also help cushion state coffers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FinMin to lay out plans to tighten state purse strings next fiscal year: The Finance Ministry is working on proposals to trim state spending in the upcoming fiscal year, which begins on 1 July, the local press reports, citing unnamed government officials. The proposed steps include slashing funding that goes into so-called \u201cspecial funds,\u201d as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[5369,279,107,104,72,276,235,277,527,156,5368,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572429","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-bonus","tag-budget-watch","tag-covid-19","tag-economy","tag-enterpriseam","tag-finance-ministry","tag-labor","tag-mohamed-maait","tag-pandemic","tag-public-sector","tag-salary","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6f32f8ab-0957-413d-8e86-e0d253e07e63","is_powered_by":true,"section_story_id":"1bb3ec4e-133c-4cf4-a351-b54b300e282f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572420],"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>FinMin to lay out plans to tighten state purse strings next fiscal year - 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\/06\/24\/finmin-to-lay-out-plans-to-tighten-state-purse-strings-next-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin to lay out plans to tighten state purse strings next fiscal year\" \/>\n<meta property=\"og:description\" content=\"FinMin to lay out plans to tighten state purse strings next fiscal year: The Finance Ministry is working on proposals to trim state spending in the upcoming fiscal year, which begins on 1 July, the local press reports, citing unnamed government officials. 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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":566168,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/01\/finmin-will-not-be-selling-usd-2-3-bn-in-eurobonds-this-month\/","url_meta":{"origin":572429,"position":1},"title":"FinMin will not be selling USD 2-3 bn in eurobonds this month","author":"enterpriseam admin","date":"1 June 2021","format":false,"excerpt":"FACT CHECK- The Finance Ministry has denied a CNBC Arabia report that it is planning a fresh sale of eurobonds soon. 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These entities\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":599633,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/06\/did-the-finmin-revise-upwards-its-public-debt-targets-for-egypt\/","url_meta":{"origin":572429,"position":3},"title":"Did the FinMin revise upwards its public debt targets for Egypt?","author":"enterpriseam admin","date":"6 January 2019","format":false,"excerpt":"**#3 FinMin revises upwards its public debt targets for Egypt: The Finance Ministry is targeting reducing Egypt\u2019s public debt to 80-85% of GDP by the end of FY2021-22, according to an initial draft of the FY2019-20 state budget presented to President Abdel Fattah El Sisi last week, according to an\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":591466,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/finmin-aims-to-cut-government-spending-by-6-5-next-fiscal-year\/","url_meta":{"origin":572429,"position":4},"title":"FinMin aims to cut government spending by 6.5% next fiscal year","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"BUDGET WATCH- FinMin aims to cut government spending by 6.5% next fiscal year: The Finance Ministry is projecting a 6.5% y-o-y reduction in government spending in the FY2020-2021 budget, according to a ministry statement. 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