{"id":647741,"date":"2017-05-18T03:54:24","date_gmt":"2017-05-18T03:54:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/"},"modified":"2017-05-18T03:54:24","modified_gmt":"2017-05-18T03:54:24","slug":"egypt-to-launch-social-aid-package-to-combat-inflation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/","title":{"rendered":"Egypt to launch social aid package to combat inflation"},"content":{"rendered":"

<\/a> Egypt expects inflation to remain above 20% during the next fiscal year<\/strong>, Tamim Elyan and Ahmed Feteha write in Bloomberg<\/a>. Deputy Finance Minister Ahmed Kouchouk says the government is planning an aid package that will \u201ctarget public servants, low-income tax payers and recipients of food subsidies.\u201d The details of the plan will be announced \u201csoon,\u201d he said. This comes as the government now believes inflation will be in the 20% band during a good portion of the 2017-18 fiscal year, eventually easing to 9.7% in FY2018-19.<\/p>\n

Kouchouk also told Bloomberg that the budget deficit for the first nine months of the FY <\/strong>2016-17 dropped to 8% of GDP<\/strong>, from 9.4% a year earlier, with primary deficit falling to 1.2% of GDP from 2.9%. He added that Egypt plans to raise USD 1.5-2 bn in international bonds next week to cover FY 2017-18\u2019s financing gap, with the following international bond sale possibly being in early 2018.<\/p>\n

Bloomberg also took note yesterday<\/a> of President Abdel Fattah El Sisi\u2019s interview with the editors of state newspapers, in which El Sisi promised tax breaks and improved availability of subsidized staples ahead of Ramadan in a bid to help families struggling with inflation to prepare for the Holy Month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt expects inflation to remain above 20% during the next fiscal year, Tamim Elyan and Ahmed Feteha write in Bloomberg. Deputy Finance Minister Ahmed Kouchouk says the government is planning an aid package that will \u201ctarget public servants, low-income tax payers and recipients of food subsidies.\u201d The details of the plan will be announced \u201csoon,\u201d […]<\/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-647741","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"58a39d29-0439-468d-aae3-6e27b9f45d6c","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647734],"teaser":"","voice_url":""},"yoast_head":"\nEgypt to launch social aid package to combat inflation - 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\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to launch social aid package to combat inflation\" \/>\n<meta property=\"og:description\" content=\"Egypt expects inflation to remain above 20% during the next fiscal year, Tamim Elyan and Ahmed Feteha write in Bloomberg. Deputy Finance Minister Ahmed Kouchouk says the government is planning an aid package that will \u201ctarget public servants, low-income tax payers and recipients of food subsidies.\u201d The details of the plan will be announced \u201csoon,\u201d […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-18T03:54:24+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\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\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to launch social aid package to combat inflation\",\"datePublished\":\"2017-05-18T03:54:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\"},\"wordCount\":208,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/egypt-to-launch-social-aid-package-to-combat-inflation\/\",\"name\":\"Egypt to launch social aid package to combat inflation - 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