{"id":646704,"date":"2017-06-21T04:18:39","date_gmt":"2017-06-21T04:18:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/21\/fep-back-fy2017-18-budget\/"},"modified":"2017-06-21T04:18:39","modified_gmt":"2017-06-21T04:18:39","slug":"fep-back-fy2017-18-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/21\/fep-back-fy2017-18-budget\/","title":{"rendered":"FEP back FY2017-18 budget"},"content":{"rendered":"

The Misryoon Al Ahrar Party (FEP) has backed the 2017-18 state budget. That\u2019s the highlight of <\/strong>the shockingly poor (and paltry) coverage of the budget debate<\/strong> at the House of Representatives yesterday. FEP announced yesterday that its bloc in the House will vote in favour of the new budget, according to Ahram Gate<\/a>. The House was due to kick off its budget debate yesterday, but the only coverage of the story to emerge overnight was a piece in Al Masry Al Youm<\/a> claiming MPs from the House Health Committee were demanding that the government increase its earmark for health spending.<\/p>\n

One thing we can confirm: The House approved yesterday its own EGP 1.1 bn operating <\/strong>budget<\/strong> for the new year, up from EGP 997 mn last year, Al Mal says<\/a>.<\/p>\n

What else did the House get up to yesterday?<\/strong> MPs signed off on a draft bill proposed by the Ismail government that would direct a percentage of ministerial special revenue funds (often described as slush funds) into the state budget process, primarily to help remedy the budget deficit, Al Shorouk reports<\/a>. The percentage deducted will vary depending on account size and value, according to Finance Minister Amr El Garhy, who said that state coffers will claim 1% of accounts holding EGP 20-30 mn, 5% from accounts holding EGP 30-50 mn, and 15% from accounts holding anything north of EGP 100 mn. The bill excludes a number of funds, including those for research, university hospitals, social welfare, housing, healthcare, and funds from international donors.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Misryoon Al Ahrar Party (FEP) has backed the 2017-18 state budget. That\u2019s the highlight of the shockingly poor (and paltry) coverage of the budget debate at the House of Representatives yesterday. FEP announced yesterday that its bloc in the House will vote in favour of the new budget, according to Ahram Gate. The House […]<\/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-646704","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"40ee34e6-b18e-4e82-843e-53c1726126c8","order":"0","is_powered_by":true,"section_story_id":"bf16e55f-5149-477d-b29a-7d8e17d582e0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646690],"teaser":"","voice_url":""},"yoast_head":"\nFEP back FY2017-18 budget - 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\/2017\/06\/21\/fep-back-fy2017-18-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FEP back FY2017-18 budget\" \/>\n<meta property=\"og:description\" content=\"The Misryoon Al Ahrar Party (FEP) has backed the 2017-18 state budget. That\u2019s the highlight of the shockingly poor (and paltry) coverage of the budget debate at the House of Representatives yesterday. FEP announced yesterday that its bloc in the House will vote in favour of the new budget, according to Ahram Gate. 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The Egyptian Media Group, controlled by Ahmed Abou Hashima, is planning an initial public offering, according to FEP Capital CEO Abdullah Al-Shaheen, who stopped short of specifying a timeline for transaction, Youm7 reports. FEP Capital is advising EMG on the planned listing. Al-Shaheen\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":630510,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/debate-on-2018-19-budget-resumes\/","url_meta":{"origin":646704,"position":1},"title":"Debate on 2018-19 budget resumes","author":"enterpriseam admin","date":"23 April 2018","format":false,"excerpt":"BUDGET WATCH- Committee-level debate of the FY2018-19 budget resumed yesterday at the House of Representatives, according to Al Mal. The House is looking to complete discussions on the budget and vote on it before the summer recess in July (and the start of the new fiscal year). The deputy chair\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":627497,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/","url_meta":{"origin":646704,"position":2},"title":"House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy","author":"enterpriseam admin","date":"4 June 2018","format":false,"excerpt":"BUDGET WATCH- The House of Representatives\u2019 general assembly is set to continue debating the FY2018-19 state budget today. 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With the Finance Ministry\u2019s approval, the committee allocated additional amounts to a number of budget\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":628882,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/16\/marginal-rise-in-usd-rate-ahead-of-ramadan-mps-split-from-fep-more-on-palestine\/","url_meta":{"origin":646704,"position":3},"title":"Marginal rise in USD rate ahead of Ramadan, MPs split from FEP, more on Palestine","author":"enterpriseam admin","date":"16 May 2018","format":false,"excerpt":"The airwaves covered everything from updates on the violence in Palestine to the seasonal fall of the EGP against the USD. The EGP falling to 17.86 per greenback is normal and expected due to seasonal factors including Ramadan, former Banque Misr deputy chairman Sahar El Damaty told Yahduth Fi Masr\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648116,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/29\/budget-discussions-in-the-house-of-representatives-are-off-to-a-predictably-chaotic-start\/","url_meta":{"origin":646704,"position":4},"title":"Budget discussions in the House of Representatives are off to a predictably chaotic start","author":"enterpriseam admin","date":"29 May 2017","format":false,"excerpt":"House Healthcare Committee digs in on reclassification of EGP 9.4 bn in FY2017-18 budget as debate budget debate grinds on: The House of Representatives\u2019 Health Committee will hold its ground to ensure that funds for wastewater projects now falling under the healthcare line item are reclassified as spending on infrastructure\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":630230,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/16\/budget-debate-officially-kicks-off-at-the-house\/","url_meta":{"origin":646704,"position":5},"title":"Budget debate officially kicks off at the House","author":"enterpriseam admin","date":"16 April 2018","format":false,"excerpt":"BUDGET WATCH- House budget debate leaks to Twitter overnight: Previously unreleased figures for the FY2018-19 budget, including details on subsidy cuts and health and education spending, were posted to Twitter overnight courtesy of House of Representative Budget Committee member MP Heytham El Hariri. 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