{"id":627751,"date":"2018-06-11T03:42:19","date_gmt":"2018-06-11T03:42:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/"},"modified":"2018-06-11T03:42:19","modified_gmt":"2018-06-11T03:42:19","slug":"house-budget-committee-approves-egp-70-bn-overdraft","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/","title":{"rendered":"House Budget Committee approves EGP 70 bn overdraft"},"content":{"rendered":"

BUDGET WATCH- The House of Representatives Budget Committee approved the government\u2019s request for a EGP 70 bn overdraft<\/strong> for the FY2017-18 budget, according to Al Masry Al Youm<\/a>. Cabinet had approved last month<\/a> the overdraft to cover \u201cnecessary expenditures,\u201d the lion\u2019s share of which was likely importing fuel at higher prices than had been anticipated.<\/p>\n","protected":false},"excerpt":{"rendered":"

BUDGET WATCH- The House of Representatives Budget Committee approved the government\u2019s request for a EGP 70 bn overdraft for the FY2017-18 budget, according to Al Masry Al Youm. Cabinet had approved last month the overdraft to cover \u201cnecessary expenditures,\u201d the lion\u2019s share of which was likely importing fuel at higher prices than had been anticipated.<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627751","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6fbb2875-b90b-40ee-8dda-6305a33abaff","order":"0","is_powered_by":true,"section_story_id":"db387189-2506-4bac-b58a-3a7308ad3c97","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627736],"teaser":"","voice_url":""},"yoast_head":"\nHouse Budget Committee approves EGP 70 bn overdraft - 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\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Budget Committee approves EGP 70 bn overdraft\" \/>\n<meta property=\"og:description\" content=\"BUDGET WATCH- The House of Representatives Budget Committee approved the government\u2019s request for a EGP 70 bn overdraft for the FY2017-18 budget, according to Al Masry Al Youm. Cabinet had approved last month the overdraft to cover \u201cnecessary expenditures,\u201d the lion\u2019s share of which was likely importing fuel at higher prices than had been anticipated.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-11T03:42:19+00:00\" \/>\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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House Budget Committee approves EGP 70 bn overdraft\",\"datePublished\":\"2018-06-11T03:42:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\"},\"wordCount\":64,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/11\/house-budget-committee-approves-egp-70-bn-overdraft\/\",\"name\":\"House Budget Committee approves EGP 70 bn overdraft - 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The overdraft was required to pay off the Electricity Ministry\u2019s EGP 102 bn debt to the Oil Ministry and another EGP 50\u2026","rel":"","context":"In "Speed Round"","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":627802,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/12\/egp-70-bn-overdraft-will-not-impact-budget-deficit-el-garhy\/","url_meta":{"origin":627751,"position":1},"title":"EGP 70 bn overdraft will not impact budget deficit - El Garhy","author":"enterpriseam admin","date":"12 June 2018","format":false,"excerpt":"BUDGET WATCH- Overdraft won\u2019t blow budget deficit target, El Garhy says. Some EGP 70 bn in overdraft spending for the soon-to-close FY2017-18 budget will not impact Egypt\u2019s targeted budget deficit for the year, said Finance Minister Amr El Garhy. The budget deficit is still on track to fall to 9.8%\u2026","rel":"","context":"In "Speed Round"","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":629464,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/31\/cabinet-signs-off-on-egp-70-bn-overdraft-for-fy2017-18-state-budget\/","url_meta":{"origin":627751,"position":2},"title":"Cabinet signs off on EGP 70 bn overdraft for FY2017-18 state budget","author":"enterpriseam admin","date":"31 May 2018","format":false,"excerpt":"CABINET WATCH- The Ismail Cabinet signed off yesterday on an EGP 70 bn overdraft for the FY2017-18 state budget to cover \u201cnecessary expenditures,\u201d according to a statement. The statement does not provide further details on the decision, but Vice Minister of Finance Mohamed Maait had told Enterprise last week that\u2026","rel":"","context":"In "Speed Round"","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":628087,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/25\/parliament-signs-off-on-egp-70-3-bn-overdraft-for-fy2017-18-state-budget\/","url_meta":{"origin":627751,"position":3},"title":"Parliament signs off on EGP 70.3 bn overdraft for FY2017-18 state budget","author":"enterpriseam admin","date":"25 June 2018","format":false,"excerpt":"BUDGET WATCH- Parliament signed off yesterday on a EGP 70.3 bn overdraft for the FY2017-18 state budget, Ahram Gate reports. The overdraft was in large part necessary to cover higher debt service rates, which alone account for EGP 57 bn. Other expenditures included EGP 2.3 bn in compensations to North\u2026","rel":"","context":"In "Speed Round"","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":573819,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/el-sisi-ratifies-egp-80-bn-overdraft-for-egypts-fy2019-2020-budget\/","url_meta":{"origin":627751,"position":4},"title":"El Sisi ratifies EGP 80 bn overdraft for Egypt\u2019s FY2019-2020 budget","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"President Abdel Fattah El Sisi has ratified a EGP 80 bn overdraft for the FY 2019-2020 state budget approved by the House last month. The overdraft, which will pay off the debt of state bodies, among other things, will not affect the state\u2019s overall deficit, Finance Minister Mohamed Maait said\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625310,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/01\/govt-will-not-need-an-overdraft-for-fy2018-19-to-cover-new-subsidy-beneficiaries\/","url_meta":{"origin":627751,"position":5},"title":"Gov\u2019t will not need an overdraft for FY2018-19 to cover new subsidy beneficiaries","author":"enterpriseam admin","date":"1 August 2018","format":false,"excerpt":"Gov\u2019t will not need an overdraft for FY2018-19 to cover new subsidy beneficiaries: The government will not seek an overdraft for the FY2018-19 state budget to accommodate new additions to subsidy rolls, Supply Ministry Spokesman Ahmed Kamal said yesterday, Al Shorouk reports. Instead, the government is focusing on weeding out\u2026","rel":"","context":"In "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627751","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=627751"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627751\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627736"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627751"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627751"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}