{"id":578669,"date":"2023-01-10T04:13:48","date_gmt":"2023-01-10T04:13:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/"},"modified":"2023-01-10T04:13:48","modified_gmt":"2023-01-10T04:13:48","slug":"cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/","title":{"rendered":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch"},"content":{"rendered":"

<\/a> Cabinet announces budget cutbacks amid rising inflation, FX crunch<\/strong>: <\/strong>Prime Minister Moustafa Madbouly has told all but \u201cessential\u201d ministries to make budget cutbacks until the end of the current fiscal year. The order comes as the government works to address a shortage of hard currency and tamp down inflation. Under a directive published in the Official Gazette yesterday, ministries and related authorities will have to reduce operational costs and limit spending on some national projects that require FX for the rest of FY 2022-2023, which finishes at the end of June.<\/p>\n

SMART POLICY- Limits on FX spending: <\/strong>Any new national projects that require significant FX expenditure, and where construction has yet to begin, will be delayed, according to the decision. Any FX spending at all by the ministries in question and their authorities will also require the Finance Ministry\u2019s approval.<\/p>\n

A number of areas of government have been ring-fenced:<\/strong> The health, interior, defense and foreign ministries have been exempted from belt-tightening, as have agencies responsible for securing food and energy supplies. All other ministries have 21 days to submit reports detailing the exact portion of the budget they intend to freeze until the end of the fiscal year.<\/p>\n

Also getting the axe: <\/strong>\u201cNon-urgent spending\u201d will also be delayed. The directive mentions activities including \u201cnon-urgent\u201d business travel, recreational activities, attending conferences, and throwing work events. Authorities will also be required to curb spending on grants, awards, and training for staff.<\/p>\n

More cutbacks on the operational side:<\/strong> Operating expenditures including office supplies and services will be reduced by 10%, with a portion of that budget frozen for the remainder of the year. Other expenses related to worker compensation \u2014 though it\u2019s not clear what expenditures the decision is referring to \u2014 will also need to be cut back by at least 2.5%.<\/p>\n

CAVEAT- There\u2019s a lot we don\u2019t know:<\/strong> The government hasn\u2019t been clear on the total value of savings it expects to realize as a result of the cuts or which projects will be impacted. The government has earmarked EGP 2.07 tn<\/a> in spending in its FY 2022-2023 budget.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cabinet announces budget cutbacks amid rising inflation, FX crunch: Prime Minister Moustafa Madbouly has told all but \u201cessential\u201d ministries to make budget cutbacks until the end of the current fiscal year. The order comes as the government works to address a shortage of hard currency and tamp down inflation. Under a directive published in the […]<\/p>\n","protected":false},"author":1,"featured_media":578670,"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":[7206],"tags":[3176,279,104,72,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-austerity","tag-budget-watch","tag-economy","tag-enterpriseam","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"6e6920bc-9a6a-4599-b912-1c49ce596f43","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/135.jpg","photo_position":"above","related_issue":[578665],"teaser":"","voice_url":""},"yoast_head":"\nCabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch - 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\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch\" \/>\n<meta property=\"og:description\" content=\"Cabinet announces budget cutbacks amid rising inflation, FX crunch: Prime Minister Moustafa Madbouly has told all but \u201cessential\u201d ministries to make budget cutbacks until the end of the current fiscal year. The order comes as the government works to address a shortage of hard currency and tamp down inflation. Under a directive published in the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T04:13:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch\",\"datePublished\":\"2023-01-10T04:13:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\"},\"wordCount\":362,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1\",\"keywords\":[\"austerity\",\"budget watch\",\"economy\",\"EnterpriseAM\",\"Moustafa Madbouly\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\",\"name\":\"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2023-01-10T04:13:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch\"}]},{\"@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":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch - 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\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/","og_locale":"en_US","og_type":"article","og_title":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch","og_description":"Cabinet announces budget cutbacks amid rising inflation, FX crunch: Prime Minister Moustafa Madbouly has told all but \u201cessential\u201d ministries to make budget cutbacks until the end of the current fiscal year. The order comes as the government works to address a shortage of hard currency and tamp down inflation. Under a directive published in the […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-01-10T04:13:48+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.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":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch","datePublished":"2023-01-10T04:13:48+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/"},"wordCount":362,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1","keywords":["austerity","budget watch","economy","EnterpriseAM","Moustafa Madbouly"],"articleSection":["Economy"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/","name":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1","datePublished":"2023-01-10T04:13:48+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/10\/cabinet-ratifies-budget-cutbacks-for-fy-2022-2023-amid-rising-inflation-and-an-ongoing-fx-crunch\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Cabinet ratifies budget cutbacks for FY 2022-2023 amid rising inflation and an ongoing FX crunch"}]},{"@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\/2023\/1\/135.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/135.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\/2023\/1\/135.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":609393,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/05\/cabinet-extends-budget-cutbacks-through-to-june-2024-amid-fx-crisis\/","url_meta":{"origin":578669,"position":0},"title":"Cabinet extends budget cutbacks through to June 2024 amid FX crisis","author":"enterpriseam admin","date":"5 November 2023","format":false,"excerpt":"The cabinet brings back restrictions on USD government spending","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578478,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/ministers-approve-decision-to-rationalize-spending-in-fy-2022-2023\/","url_meta":{"origin":578669,"position":1},"title":"Ministers approve decision to \u201crationalize spending\u201d in FY 2022-2023","author":"enterpriseam admin","date":"2 January 2023","format":false,"excerpt":"Budget cutbacks in the works? Ministers approved a decision by Prime Minister Moustafa Madbouly to rationalize spending for the remainder of the current fiscal year, cabinet said in a statement Thursday following its weekly meeting. The statement didn\u2019t include any additional information as to how the state may cut down\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/7.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/the-search-for-budget-cutbacks-starts-in-april-pm-asks-us-all-to-drive-a-bit-less\/","url_meta":{"origin":578669,"position":2},"title":"The search for budget cutbacks starts in April, PM asks us all to drive a bit less","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"Ministries and government agencies will start looking at ways to trim spending from the beginning of next month as the cabinet tries to get its fiscal house in order amid spiraling international commodity prices and the war in Ukraine. Sources have reportedly told Al Shorouk that Prime Minister Moustafa Madbouly\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":578722,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/11\/oil-ministry-projects-wont-freeze-fx-spending-el-molla\/","url_meta":{"origin":578669,"position":3},"title":"Oil Ministry projects won\u2019t freeze FX spending -El Molla","author":"enterpriseam admin","date":"11 January 2023","format":false,"excerpt":"ENERGY-Oil Ministry projects are excluded from the government\u2019s decision to ration FX spending, Minister Tarek El Molla told CNBC in an interview (watch, runtime: 10:08) The Oil Ministry\u2019s partner companies tend to cover upfront investments in new oil and gas projects rather than the ministry itself, El Molla added. The\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/173.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/last-nights-talk-shows-madbouly-has-a-plan-to-solve-fx-woes\/","url_meta":{"origin":578669,"position":4},"title":"Last Night\u2019s Talk Shows: Madbouly has a plan to solve FX woes","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"It was a slow night on talk shows yesterday \u2014 sans Lamees Hadidi and Amr Adib","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614958,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/goldman-sachs-calls-for-egypt-to-build-liquidity-buffers-and-curb-fx-demand-before-devaluation\/","url_meta":{"origin":578669,"position":5},"title":"Goldman Sachs calls for Egypt to build liquidity buffers and curb FX demand before devaluation","author":"enterpriseam admin","date":"11 February 2024","format":false,"excerpt":"Egypt\u2019s policy objectives are unlikely to be achieved without further policy tightening and sufficient FX liquidity buffers ahead of a devaluation, the bank said","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/786.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\/578669","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=578669"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578669\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578670"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578669"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578669"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}