{"id":572570,"date":"2020-06-30T04:28:07","date_gmt":"2020-06-30T04:28:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/30\/what-were-tracking-on-30-june-2020\/"},"modified":"2020-06-30T04:28:07","modified_gmt":"2020-06-30T04:28:07","slug":"what-were-tracking-on-30-june-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/30\/what-were-tracking-on-30-june-2020\/","title":{"rendered":"What we\u2019re tracking on 30 June 2020"},"content":{"rendered":"

<\/a> Welcome to the final day of 1H2020<\/strong>, which must surely rank near the top of the league table for worst first halves ever? Sure, 2H wins the Global, All-Time Bad Half Sweepstakes \u2014 but only because the first and second world wars broke out in 2H. (As did the Great Depression\u2026)<\/p>\n

2020:<\/strong> The year that just keeps on giving. Maybe \u201chindsight is 20\/20\u201d was meant as some kind of cryptic warning from the future?<\/p>\n

The big news of the day?<\/strong> The World Health Organization is warning that the pandemic is speeding up globally and that \u201cthe worst yet to come\u201d<\/strong> (details below).<\/p>\n

Some thoughts as we prepare to kick off the second half of the year <\/strong>\u2014 and the state\u2019s new fiscal year:<\/p>\n

Regularly scheduled commercial flights to and from Egypt resume tomorrow <\/strong>with EgyptAir flying to 22 destinations. You can find details on the flights and how to confirm your bookings here<\/a>. The national flag carrier aims to add seven more destinations by mid-July. EgyptAir is offering 20% breaks on flights to and from Europe<\/strong>, the company told the domestic press<\/a>.<\/p>\n

EgyptAir\u2019s most-booked destinations so far? <\/strong>Paris, New York and London.<\/p>\n

The 2020-2021 budget is on President Abdel Fattah El Sisi\u2019s desk for signature. <\/strong>It goes into effect tomorrow if it is signed today. If not, the current budget resets and guides spending and revenue priorities from tomorrow until a new one is passed.<\/p>\n

Your wage tax bill could soon get a little bit more expensive: <\/strong>The state\u2019s coffers will benefit in the new fiscal year from a 1% surtax on all salaries<\/a> for coming fiscal year to help fight covid-19. The surtax is also yet to pass in the House.<\/p>\n

Electricity bills are going up by some 16-30% for residential consumers starting <\/strong>tomorrow <\/strong>in the government\u2019s final phase out of electric subsidies for the highest consumption brackets. You can find the full breakdown of the new pricing structure for household customers here<\/a>. The full phase-out of subsidies will now take place in 2025.<\/p>\n

University exams start tomorrow<\/strong> and the 2019-2020 academic year has been extended to 15<\/a>September<\/a> (rather than 31 July) as a result.<\/p>\n

A ray of sunshine: China said this morning that factory activity expanded in June <\/strong>as the official purchasing manager\u2019s index showing both supply and demand picking up.<\/p>\n

Asian markets are up <\/strong>in early trading this morning as a result. Futures suggest markets in Europe, the US and Canada will follow suit.<\/p>\n

Key news triggers coming up in July<\/strong>:<\/p>\n