{"id":650356,"date":"2017-03-22T04:17:41","date_gmt":"2017-03-22T04:17:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/"},"modified":"2017-03-22T04:17:41","modified_gmt":"2017-03-22T04:17:41","slug":"el-garhy-discusses-budget-in-an-al-ahram-interview","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/","title":{"rendered":"El Garhy discusses budget in an Al Ahram interview"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>As for the FY2017-18 budget, Egypt\u2019s total subsidy expenditures are estimated to come in at EGP 385 bn<\/strong>, up from EGP 285 bn in the current fiscal year, El Garhy told <a href=\"http:\/\/www.ahram.org.eg\/News\/202210\/76\/584531\/%D8%AD%D9%88%D8%A7%D8%B1%D8%A7%D8%AA\/%D8%B9%D9%85%D8%B1%D9%88-%D8%A7%D9%84%D8%AC%D8%A7%D8%B1%D8%AD%D9%89-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%84%D9%80-%C2%AB%D8%A7%D9%84%D8%A3%D9%87%D8%B1%D8%A7%D9%85%C2%BB--%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87.aspx\">Al Ahram<\/a> in an interview published on Tuesday. Social welfare programs, including Takaful and Karama, will cost the state around EGP 200 bn next fiscal year, he added. As <a href=\"https:\/\/enterprise.press\/stories\/2017\/03\/20\/amr-el-garhy-interviewed-on-the-fy17-18-budget-lamees-also-ropes-in-former-mobinil-ceo-alex-shalaby-healthcare-act-could-be-law-after-six-months-of-passing-the-bill\/\">we noted on Monday<\/a>, El Garhy had said that GDP growth should be somewhere between 3.8 and 4%, with output reaching EGP 4.1 tn, up from EGP 3.4 tn in FY16-17. As for the budget deficit, projections see it ranging from 9.25% to 9.5% of GDP in FY2017-18. El Garhy told the newspaper that the total public debt for FY16-17 came in at EGP 3.4 tn, or 103% of GDP, on the back of rising interest rates which cost the state this year EGP 305 bn, and is expected to reach EGP 380 bn in FY17-18. <strong>El Garhy confirmed that the budget will be ready on 31 March<\/strong>, while Deputy Finance Minister Ahmed Kouchouk told <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1105489\">Al Masry Al Youm<\/a> that the date will be when the ministry sends over a draft to the House of Representatives.<\/p>\n<p>And speaking of subsidies, <strong>the Military Production Ministry expects to complete its review of the food subsidy rolls by early April<\/strong>, a ministry official tells <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=21032017&id=6276580b-b8c6-4aab-953a-efb6573ea576\">Al Shorouk<\/a>. It\u2019s a date, Kramer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As for the FY2017-18 budget, Egypt\u2019s total subsidy expenditures are estimated to come in at EGP 385 bn, up from EGP 285 bn in the current fiscal year, El Garhy told Al Ahram in an interview published on Tuesday. Social welfare programs, including Takaful and Karama, will cost the state around EGP 200 bn next [&hellip;]<\/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-650356","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4c1de1af-6134-4e08-9510-fecd73493ea9","order":"0","is_powered_by":true,"section_story_id":"63381cfb-72fb-4e88-990b-396a01cb5c2d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650348],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>El Garhy discusses budget in an Al Ahram interview - 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\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Garhy discusses budget in an Al Ahram interview\" \/>\n<meta property=\"og:description\" content=\"As for the FY2017-18 budget, Egypt\u2019s total subsidy expenditures are estimated to come in at EGP 385 bn, up from EGP 285 bn in the current fiscal year, El Garhy told Al Ahram in an interview published on Tuesday. Social welfare programs, including Takaful and Karama, will cost the state around EGP 200 bn next [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-22T04:17:41+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\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Garhy discusses budget in an Al Ahram interview\",\"datePublished\":\"2017-03-22T04:17:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\"},\"wordCount\":229,\"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\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/22\/el-garhy-discusses-budget-in-an-al-ahram-interview\/\",\"name\":\"El Garhy discusses budget in an Al Ahram interview - 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This should come to around EGP 40 bn, he told President Abdel Fattah El Sisi and\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":627845,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/egypt-achieves-egp-2-bn-primary-budget-surplus-during-11m17-18\/","url_meta":{"origin":650356,"position":1},"title":"Egypt achieves EGP 2 bn primary budget surplus during 11M17-18","author":"enterpriseam admin","date":"13 June 2018","format":false,"excerpt":"Egypt delivered a primary budget surplus of EGP 2 bn in 11M17-18, compared to a deficit of EGP 47 bn in the same period the year before, Finance Minister Amr El Garhy said in a statement yesterday. The overall deficit also narrowed to 7.8%, down from 9.3% in the same\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":647354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/09\/budget-discussions-kick-off-at-the-house\/","url_meta":{"origin":650356,"position":2},"title":"Budget discussions kick-off at the House","author":"enterpriseam admin","date":"9 May 2017","format":false,"excerpt":"Finance and planning ministers talk FY2017-18 budget with the House: House of Speaker Ali Abdel Aal referred the Ismail government\u2019s proposed FY2017-18 budget to the House Budget Committee after Finance Minister Amr El Garhy and Planning Minister Hala El Said briefed MPs on the spending bill yesterday, Ahram Gate reports.\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":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":650356,"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 &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":627802,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/12\/egp-70-bn-overdraft-will-not-impact-budget-deficit-el-garhy\/","url_meta":{"origin":650356,"position":4},"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 &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":641332,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/19\/government-looks-towards-gdp-growth-levels-of-5-5-25-this-fiscal-year-el-garhy\/","url_meta":{"origin":650356,"position":5},"title":"Government looks towards GDP growth levels of 5-5.25% this fiscal year - El Garhy","author":"enterpriseam admin","date":"19 September 2017","format":false,"excerpt":"The government targeting GDP growth of 5-5.25% in FY2017-18, Finance Minister Amr El Garhy said, Reuters reports. Speaking yesterday on the first day of Euromoney Egypt (pdf), the minister pointed to the fiscal and economic policy changes since November 2016, including the EGP float and subsidy phase-out program, which he\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650356","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=650356"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/650356\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/650348"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=650356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=650356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=650356"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=650356"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=650356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}