{"id":650601,"date":"2017-03-28T04:01:09","date_gmt":"2017-03-28T04:01:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/finance-ministry-sets-final-exchange-rate-and-oil-price-projections-for-fy2017-18-budget\/"},"modified":"2017-03-28T04:01:09","modified_gmt":"2017-03-28T04:01:09","slug":"finance-ministry-sets-final-exchange-rate-and-oil-price-projections-for-fy2017-18-budget","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/finance-ministry-sets-final-exchange-rate-and-oil-price-projections-for-fy2017-18-budget\/","title":{"rendered":"Finance Ministry sets final exchange rate and oil price projections for FY2017-18 budget"},"content":{"rendered":"

<\/a> The Finance Ministry has settled on an exchange rate of EGP 16.00 per greenback and sees <\/strong>oil price at USD 55 \/ bbl for the FY2017-18 budget, <\/strong>Finance Minister Amr El Garhy told Youm7<\/a>after the cabinet economic group\u2019s budget talks on Monday. The budget should head to the House of Representatives in the coming weeks, and the grandstanding has already begun, with Rep. Amr El Gohary describing the as-yet un-released budget as \u201cdisastrous,\u201d Al Mal reports<\/a>. A trenchant critique with deep insight we should all consider, clearly.<\/p>\n

Meanwhile, the Supply Ministry is working with bakery owners to review what they\u2019re paid <\/strong>to produce subsidized bread,<\/strong> with the new prices coming into effect in the upcoming fiscal year, Supply Minister Ali El Moselhy tells Al Borsa<\/a>. The Federation of Egyptian Chambers of Commerce\u2019s bakeries division is expected the figure to rise to EGP 176 per 100 kg of bread, up from EGP 165, according to head of the Federation of Egyptian Industries\u2019 bakeries division Hassan El Mohamady. El Moselhy had said that state spending on bread subsidies will reach EGP 60 bn<\/a> in the FY2017-18 state budget.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Finance Ministry has settled on an exchange rate of EGP 16.00 per greenback and sees oil price at USD 55 \/ bbl for the FY2017-18 budget, Finance Minister Amr El Garhy told Youm7after the cabinet economic group\u2019s budget talks on Monday. The budget should head to the House of Representatives in the coming weeks, […]<\/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-650601","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"236295af-9072-42a2-9236-5769411edc50","order":"0","is_powered_by":true,"section_story_id":"035d8089-b801-45a5-a779-6c7ea882e43e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650591],"teaser":"","voice_url":""},"yoast_head":"\nFinance Ministry sets final exchange rate and oil price projections for 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\/03\/28\/finance-ministry-sets-final-exchange-rate-and-oil-price-projections-for-fy2017-18-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry sets final exchange rate and oil price projections for FY2017-18 budget\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry has settled on an exchange rate of EGP 16.00 per greenback and sees oil price at USD 55 \/ bbl for the FY2017-18 budget, Finance Minister Amr El Garhy told Youm7after the cabinet economic group\u2019s budget talks on Monday. 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The committee has proposed amendments to budget submissions from five ministries including education, higher\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":635348,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/03\/finance-ministry-kicks-off-preparations-for-drawing-up-the-fy2018-19-budget\/","url_meta":{"origin":650601,"position":1},"title":"Finance Ministry kicks off preparations for drawing up the FY2018-19 budget","author":"enterpriseam admin","date":"3 December 2017","format":false,"excerpt":"Subsidy cuts in the air for mid-2018 as Finance Ministry prepares to draw up its FY2018-19 budget: The Finance Ministry released its general guidelines (pdf) to government ministries for drafting the FY2018-19 budget last week. The ministry is targeting GDP growth of 5.5% for the fiscal year and will look\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":634503,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/16\/mp-submits-inquiry-into-differences-between-actual-and-estimated-costs-in-fy2017-18-budget\/","url_meta":{"origin":650601,"position":2},"title":"MP submits inquiry into differences between actual and estimated costs in FY2017-18 budget","author":"enterpriseam admin","date":"16 January 2018","format":false,"excerpt":"MP Mohamed Fouad says he submitted an official inquiry to House Speaker Ali Abdel Aal yesterday about the differences between the estimated and actual costs of items in the FY2017-18 state budget. The price of oil, for example, was set at an average USD 55 per barrel for the fiscal\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":627802,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/12\/egp-70-bn-overdraft-will-not-impact-budget-deficit-el-garhy\/","url_meta":{"origin":650601,"position":3},"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":637173,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/09\/egypt-reassures-imf-it-can-achieve-budget-surplus-reduce-government-debt-in-fy2017-18\/","url_meta":{"origin":650601,"position":4},"title":"Egypt reassures IMF it can achieve budget surplus, reduce government debt in FY2017-18","author":"enterpriseam admin","date":"9 November 2017","format":false,"excerpt":"Egypt is confident it can achieve a primary budget surplus for the first time years in FY2017-18 and is working to reduce government debt to 98% of GDP, Vice Minister of Finance Ahmed Kouchouk told the IMF delegation in town reviewing progress on the economic reform agenda. Positive indicators from\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":649708,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/expenditures-on-the-fy2017-18-budget-may-surpass-egp-1-tn-for-the-first-time\/","url_meta":{"origin":650601,"position":5},"title":"Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time","author":"enterpriseam admin","date":"7 March 2017","format":false,"excerpt":"Expenditures on the FY2017-18 budget may surpass EGP 1 tn for the first time, Al Ahram reports, citing unnamed Finance Ministry sources. According to Deputy Finance Minister Mohamed Maait, the increase in the budget is due in large part to fulfilling the constitutional requirement on health and education spending. 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