{"id":616921,"date":"2024-03-13T00:00:00","date_gmt":"2024-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/half-of-the-proceeds-from-the-privatization-program-earmarked-to-reduce-public-debt-maait\/"},"modified":"2024-03-13T00:00:00","modified_gmt":"2024-03-13T00:00:00","slug":"half-of-the-proceeds-from-the-privatization-program-earmarked-to-reduce-public-debt-maait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/half-of-the-proceeds-from-the-privatization-program-earmarked-to-reduce-public-debt-maait\/","title":{"rendered":"Half of the proceeds from the privatization program earmarked to reduce public debt -Maait"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Half of the state\u2019s<\/strong><strong> privatization program<\/strong><strong> proceeds to go into reducing public debt:<\/strong> The government will use 50% of the money generated through its privatization program as well as the country\u2019s primary surplus to service and reduce outstanding debt in the upcoming fiscal year, according to <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid031NPyG7z4Ems3N2o8YiU1LcVriznNyMe7xerdC2uodAbj4HNZwqQUs6BzhVMNPyFHl\" style=\"\" rel=\"noopener\">Finance Minister Mohamed Maait<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> The Finance Ministry will hold off on tapping foreign debt markets or issuing any international bonds before the end of the current fiscal year in June, Maait <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4286f10b-5618-426b-87de-d53d22d9591a\" style=\"\" rel=\"noopener\">said<\/a> during a presser earlier this week. The government is now also targeting a higher primary surplus of 3.5% for the next fiscal year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Gov\u2019t to hold off on tax hikes: <\/strong>There will be no tax increases for investors in the next fiscal year. Additionally, mandatory solidarity contributions to the universal health ins. system will be deducted from taxpayers\u2019 tax base.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There will also be no tax increases for investors in the next fiscal year<\/p>\n","protected":false},"author":1,"featured_media":616922,"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":[104,72,276,277,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-616921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-finance-ministry","tag-mohamed-maait","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"f39bafa5-1db6-4158-8c53-f20e036939e8","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/1803.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Half of the proceeds from the privatization program earmarked to reduce public debt -Maait","related_issue":[616916],"teaser":"There will also be no tax increases for investors in the next fiscal year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.5b36c1e4-4bd3-4bdc-8957-36a0c644844a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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PLUS: Quick economic update from Maait","author":"enterpriseam admin","date":"12 July 2023","format":false,"excerpt":"Egypt has only tapped the int\u2019l debt markets once since March 2022","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\/2023\/7\/447.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":616921,"position":1},"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":543386,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/31\/state-privatization-program-to-resume-in-march-maait\/","url_meta":{"origin":616921,"position":2},"title":"State privatization program to resume in March -Maait","author":"enterpriseam admin","date":"31 January 2022","format":false,"excerpt":"Privatization program to resume in March -Maait: We can expect more state-owned companies to offer shares on the EGX in the coming weeks, according to Finance Minister Mohamed Maait, who told Bloomberg Asharq (watch, runtime: 3:26) yesterday that the state privatization program will resume in March. This comes a few\u2026","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/537.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571283,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/budget-deficit-could-widen-to-7-8-due-to-covid-19-maait\/","url_meta":{"origin":616921,"position":3},"title":"Budget deficit could widen to 7.8% due to covid-19 -Maait","author":"enterpriseam admin","date":"6 May 2020","format":false,"excerpt":"Budget deficit could widen to 7.8% due to covid-19 -Maait: Egypt\u2019s budget deficit could widen to 7.8% of GDP in FY2020-2021 if the covid-19 pandemic continues until the end of the year, Finance Minister Mohamed Maait warned yesterday. The government currently expects to narrow the deficit to 6.3% in FY2020-2021.\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\/5\/48.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569416,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/finmin-to-cut-debt-to-gdp-ratio-to-79-next-fiscal-year-maait\/","url_meta":{"origin":616921,"position":4},"title":"FinMin to cut debt-to-GDP ratio to 79% next fiscal year -Maait","author":"enterpriseam admin","date":"24 February 2020","format":false,"excerpt":"BUDGET WATCH- FinMin adopts more ambitious debt-to-GDP targets in coming fiscal year: The Finance Ministry will aim to lower Egypt\u2019s debt-to-GDP ratio to 79% during FY2020-2021, Minister Mohamed Maait said on the sidelines of a conference yesterday, Hapi Journal reports. 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":571397,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/11\/maait-signals-austerity-measures-if-covid-19-crisis-persists\/","url_meta":{"origin":616921,"position":5},"title":"Maait signals austerity measures if covid-19 crisis persists","author":"enterpriseam admin","date":"11 May 2020","format":false,"excerpt":"BUDGET WATCH- Austerity measures in the cards if crisis continues into FY2020-2021 -Maait: The government could cut back on spending in its FY2020-2021 budget if the covid-19 outbreak persists after July, Finance Minister Mohamed Maait said in a meeting with President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly\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\/5\/98.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\/616921","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=616921"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/616921\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/616916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/616922"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=616921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=616921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=616921"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=616921"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=616921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}