{"id":649461,"date":"2017-03-01T04:11:26","date_gmt":"2017-03-01T04:11:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/01\/el-garhy-on-next-years-budget-projections-the-house-aversion-to-free-speech-mall-of-egypt-opening-tomorrow\/"},"modified":"2017-03-01T04:11:26","modified_gmt":"2017-03-01T04:11:26","slug":"el-garhy-on-next-years-budget-projections-the-house-aversion-to-free-speech-mall-of-egypt-opening-tomorrow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/01\/el-garhy-on-next-years-budget-projections-the-house-aversion-to-free-speech-mall-of-egypt-opening-tomorrow\/","title":{"rendered":"El Garhy on next year\u2019s budget projections; the House\u2019 aversion to free speech; Mall of Egypt opening tomorrow"},"content":{"rendered":"

Finance Minister Amr El Garhy phoned in to Hona Al Assema last night. <\/strong>El Garhy said the2017-18 deficit should come in at c. 9.5% of GDP, with GDP growth estimated to reach 4%<\/strong>. The budget will be presented to the House on 1 April. \u201cWe are still not sure when the IMF mission will visit, as early April coincides with the Spring Meetings of the World Bank and IMF,\u201d he said.<\/p>\n

Speaking on the <\/strong>proposed stamp tax rate<\/strong><\/a> of 0.175% on stock market transactions, El Garhy <\/strong>stressed that this was not set in stone<\/strong>, but that the ministry was still studying it as an option. He added that we still have to wait for the House to formally and legally delay the capital gains tax for another three years. The minister also old host Lamees El Hadidy that the move to decrease the customs exchange rate to EGP 15.75 for the USD 1 would surely help drive down inflation (watch<\/a>, runtime: 7:34).<\/p>\n

Lamees Al Hadidi then covered the mounting tension between the House of Reps and the <\/strong>press<\/strong>. The latest: MPs have backed controversial Rep. Mortada Mansour\u2019s demand that the House request the Prosecutor General\u2019s Office open an investigation of columnist and former talk show host Ibrahim Eissa. Mansour claims Eissa is guilty of \u201cinsulting Parliament\u201d and alleges the Suspendered One committed libel in a column for Al Maqal<\/a> that likened parliamentarians to cartoon characters. MP Ahmed Imbaby was deputized to speak for the thin-skinned folk in the House, telling Lamees in a call-in that while MPs welcome criticism, \u201cwe have been witnessing attacks from many newspapers for a while.\u201d Lamees took the MP to school on freedom of the press. Her comments fell on deaf ears (watch<\/a>, runtime: 20:08).<\/p>\n

(Paging Mr. Kafka:<\/strong> Elsewhere, House Speaker Ali Abdel Aal has lambasted state-owned Al-Ahram\u2019s breaking news website for running a piece that was \u201cinsulting\u201d to the House, but refused to identify the article in questions, Al Ahram reports<\/a>. Al Ahram\u2019s board of directors responded with a statement<\/a> defending its reporters. Meanwhile, Al Shorouk<\/a> has more on the Eissa-Mansour flap.)<\/p>\n

Kol Youm\u2019s Amr Adib interviewed Majid Al Futtaim CEO Alain Bejjani on tomorrow\u2019s <\/strong>opening of the Mall of Egypt.<\/strong> \u201cMall of Egypt is MAF\u2019s most important investment in Egypt,\u201d said Bejjani, adding that the company envisaged a mall by the Pyramids that could compete on an international level. The mall will contain 350 commercial outlets, 21 VOX cinema screens, a Carrefour, hypermarket, and oh, yeah, a ski slope (watch<\/a>, runtime: 18:24). We hate to say it, but we really like the ski slope\u2026<\/p>\n

Adib then spoke on investor interest in the government\u2019s 1.5 mn feddan land reclamation <\/strong>project <\/strong>with Atter Hanoura, chairman of the Egyptian Rural Development Company, which manages the megaproject. Hanoura told Adib that demand for land in the first phase exceeded the 500K feddans on offer (watch<\/a>, runtime: 2:25).<\/p>\n

Al Hayah Al Youm\u2019s Tamer Amin <\/strong>interviewed Environment Minister Khaled Fahmy on the ministry's wastewater management program (watch<\/a>, runtime: 2:13) and Germany\u2019s ambassador to Egypt Julius Georg Luy German on Chancellor Angela Merkel\u2019s itinerary<\/strong> for her trip to Masr (watch<\/a>, runtime: 3:21).<\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Minister Amr El Garhy phoned in to Hona Al Assema last night. El Garhy said the2017-18 deficit should come in at c. 9.5% of GDP, with GDP growth estimated to reach 4%. The budget will be presented to the House on 1 April. \u201cWe are still not sure when the IMF mission will visit, […]<\/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":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649461","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"1328f609-27a5-4ffc-9a99-d8b287608422","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[649456],"teaser":"","voice_url":""},"yoast_head":"\nEl Garhy on next year\u2019s budget projections; the House\u2019 aversion to free speech; Mall of Egypt opening tomorrow - 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\/03\/01\/el-garhy-on-next-years-budget-projections-the-house-aversion-to-free-speech-mall-of-egypt-opening-tomorrow\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Garhy on next year\u2019s budget projections; the House\u2019 aversion to free speech; Mall of Egypt opening tomorrow\" \/>\n<meta property=\"og:description\" content=\"Finance Minister Amr El Garhy phoned in to Hona Al Assema last night. 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We await the joys of a more humorous take on the economy when Amr Adib returns from his recuperation. Lamees had a lengthy phone call\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":638964,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/el-garhy-on-eurobond-program-praise-for-egypt-in-the-us\/","url_meta":{"origin":649461,"position":1},"title":"El Garhy on eurobond program, praise for Egypt in the US","author":"enterpriseam admin","date":"18 October 2017","format":false,"excerpt":"El Garhy on eurobond program, praise for Egypt in the US: The planned eurobond issuance will not add to the pressure of external debt, as interest rates have dropped to 6% on 10-year bonds, down from 7.5%, while six-year bonds now carry a rate of 5%, down from 6.5%, Finance\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":637218,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/between-the-imf-delegations-report-and-sps-outlook-upgrade-amr-el-garhy-had-plenty-to-talk-about\/","url_meta":{"origin":649461,"position":2},"title":"Between the IMF delegation\u2019s report and S&P\u2019s outlook upgrade, Amr El Garhy had plenty to talk about","author":"enterpriseam admin","date":"12 November 2017","format":false,"excerpt":"With plenty of developments on the economic front, Finance Minister Amr El Garhy blanketed the airwaves last night to discuss the IMF delegation\u2019s visit and report on Egypt\u2019s progress and reforms, as well as S&P\u2019s long-awaited move to raise the country\u2019s outlook to \u2018positive.\u2019The IMF delegation agreed to make some\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":546085,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/pif-subsidiary-ups-stake-in-egx-listed-rameda-el-garhy-buys-natl-glass-and-crystal-from-adib-egypt\/","url_meta":{"origin":649461,"position":3},"title":"PIF subsidiary ups stake in EGX-listed Rameda + El Garhy buys Nat\u2019l Glass and Crystal from ADIB Egypt","author":"enterpriseam admin","date":"27 April 2022","format":false,"excerpt":"Saudi PIF subsidiary ups stake in Rameda: The Saudi Seventh Investment Company (SSIC) has purchased another 6.5% of Rameda Pharma, raising its total stake to 11.01%, the EGX announced (pdf) yesterday. SSIC, a subsidiary of the Public Investment Fund (PIF, KSA\u2019s sovereign wealth fund), purchased 65 mn shares for EGP\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647524,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/el-garhy-on-2nd-tranche-of-imf-facility-el-anany-about-new-archaeological-finds\/","url_meta":{"origin":649461,"position":4},"title":"El Garhy on 2nd tranche of IMF facility, El Anany about new archaeological finds","author":"enterpriseam admin","date":"14 May 2017","format":false,"excerpt":"On Hona Al Asema, Finance Minister Amr El Garhy had a chat with Lamees Al Hadidi, telling her he expects receive the second tranche of the IMF loan in the second half of June. El Garhy also vehemently denied rumors suggesting that the government has plans to hike energy prices,\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":567561,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/27\/22-rolling-mills-to-halt-production-on-steel-import-tariffs\/","url_meta":{"origin":649461,"position":5},"title":"22 rolling mills to halt production on steel import tariffs","author":"enterpriseam admin","date":"27 January 2020","format":false,"excerpt":"Row over steel import tariffs flares up again: Twenty-two steel rolling mills will suspend production in protest at the government\u2019s decision to place import tariffs on steel rebar and iron billets, according to the local press. The Trade Ministry last year introduced a 25% duty on steel rebar imports and\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\/2020\/1\/705.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\/649461","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=649461"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649461\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649456"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649461"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649461"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}