{"id":597906,"date":"2019-05-08T02:53:12","date_gmt":"2019-05-08T02:53:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/"},"modified":"2019-05-08T02:53:12","modified_gmt":"2019-05-08T02:53:12","slug":"finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/","title":{"rendered":"FinMin gives update on fiscal performance as the IMF arrives in Cairo"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <b>FinMin gives update on fiscal performance as the IMF arrives in Cairo: <\/b>The budget deficit shrank to 5.3% of GDP in the first nine months of FY2018-19, compared to 6.2% in the same period a year earlier, Finance Minister Mohamed Maait announced in a press conference yesterday, <a href=\"https:\/\/ent.news\/2018\/9\/245.pdf\">according to a ministry statement (pdf)<\/a>. The primary budget surplus rose to EGP 35.5 bn (0.7% of GDP) during the period, up from EGP 7 bn (0.2%) a year earlier. Results bode well for ministry\u2019s June-end target to reduce the debt-to-GDP ratio to 93%,Maait said. The ministry\u2019s four-year <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> aims to reduce the ratio to 80-85% of GDP by the end of FY2021-22.<\/p>\n<p><b>Other key takeaways from the presser:<\/b><\/p>\n<ul>\n<li><b>Foreign holdings in Egyptian treasuries stood at USD 16.8 bn <\/b>by the third week of April, up from USD 15.8 bn <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/07\/foreign-holdings-in-egyptian-treasuries-up-to-usd-15-8-bn\/\">at the end of February<\/a>.<\/li>\n<li><b>Inflation:<\/b> The ministry is targeting an inflation level of no more than 10% in the coming fiscal year, and between 6 and 7% in FY 2020-21.<\/li>\n<li><b>Tax and non-tax state revenues continue to outgrow spending: <\/b>Tax collections and other revenues grew at 20.3% to EGP 598.7 bn during the nine months, a rate faster than the 13.9% growth in state spending, which came at EGP 879 mn during the period. <\/li>\n<\/ul>\n<p><b>The press conference came as an IMF delegation arrived in Cairo<\/b> to <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/06\/what-were-tracking-on-06-may-2019\/\">conduct its final review<\/a> of the economic reform program. The review will determine whether the fund disburses the sixth and final tranche of the USD 12 bn facility in July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FinMin gives update on fiscal performance as the IMF arrives in Cairo: The budget deficit shrank to 5.3% of GDP in the first nine months of FY2018-19, compared to 6.2% in the same period a year earlier, Finance Minister Mohamed Maait announced in a press conference yesterday, according to a ministry statement (pdf). The primary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":597907,"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":[2653,7106,72,7087,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-budgeting","tag-debt","tag-enterpriseam","tag-finance","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6056a232-7291-4a35-8b72-19e4437d0323","is_powered_by":true,"section_story_id":"74c05835-1744-4887-9370-19b67c54f236","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/773.jpg","photo_position":"above","related_issue":[597899],"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 gives update on fiscal performance as the IMF arrives in Cairo - 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\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin gives update on fiscal performance as the IMF arrives in Cairo\" \/>\n<meta property=\"og:description\" content=\"FinMin gives update on fiscal performance as the IMF arrives in Cairo: The budget deficit shrank to 5.3% of GDP in the first nine months of FY2018-19, compared to 6.2% in the same period a year earlier, Finance Minister Mohamed Maait announced in a press conference yesterday, according to a ministry statement (pdf). The primary [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-08T02:53:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.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\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FinMin gives update on fiscal performance as the IMF arrives in Cairo\",\"datePublished\":\"2019-05-08T02:53:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\"},\"wordCount\":256,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1\",\"keywords\":[\"budgeting\",\"debt\",\"EnterpriseAM\",\"Finance\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-gives-update-on-fiscal-performance-as-the-imf-arrives-in-cairo\/\",\"name\":\"FinMin gives update on fiscal performance as the IMF arrives in Cairo - 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The new figure is more ambitious than targets announced in\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":596003,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/finmin-eyes-more-ambitious-debt-to-gdp-ratio-targets-for-egypt-within-three-years\/","url_meta":{"origin":597906,"position":1},"title":"FinMin eyes more ambitious debt-to-GDP ratio targets for Egypt within three years","author":"enterpriseam admin","date":"18 August 2019","format":false,"excerpt":"FinMin eyes more ambitious debt-to-GDP ratio targets within three years: The Finance Ministry is planning to reduce Egypt\u2019s debt-to-GDP ratio to pre-2011 levels of 77.5% by the end of FY2021-2022, according to a ministry statement. This is lower than the previous target announced in March, which aimed to reduce debt\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\/1\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592909,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/finance-ministry-eyes-6-4-growth-in-fy-2020-2021\/","url_meta":{"origin":597906,"position":2},"title":"Finance Ministry eyes 6.4% growth in FY 2020-2021","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"BUDGET WATCH- FinMin says it\u2019s targeting 6.4% growth, 6.2% deficit next fiscal year: The Finance Ministry is eyeing GDP growth of 6.4% in FY2020-2021, up from a targeted 6% for the current fiscal year, according to the ministry\u2019s preliminary budget statement announced by cabinet yesterday. Local press reports had suggested\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\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"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":597906,"position":3},"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":544781,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/govt-lowers-fy-2022-2023-budget-targets-as-ukraine-conflict-strains-finances\/","url_meta":{"origin":597906,"position":4},"title":"Gov\u2019t lowers FY 2022-2023 budget targets as Ukraine conflict strains finances","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"FinMin trims budget targets as Ukraine conflict weighs on state finances: The Finance Ministry has revised downwards its fiscal targets for FY 2022-2023 as rising commodities prices put pressure on public finances, according to figures published in an Ittihadiya statement yesterday evening.Deficit still on course to narrow: The government now\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567376,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/egypt-to-beat-debt-to-gdp-target-this-year-maait\/","url_meta":{"origin":597906,"position":5},"title":"Egypt to beat debt-to-GDP target this year -Maait","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"Egypt to beat debt-to-GDP target this year + all you need to know about FinMin\u2019s epic presser: The Finance Ministry expects to reduce its debt-to-GDP ratio to 83% by the end of the current fiscal year, easily beating the 89% target included in the FY 2019-2020 budget, Finance Minister Mohamed\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\/1\/658.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\/597906","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=597906"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597906\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597899"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597907"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597906"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597906"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}