Egypt’s government plans to borrow a huge amount in the new fiscal year 2024-2025, amounting to about two trillion, 849 billion and 200 million pounds ($59.11 billion).
This borrowing represents an increase of 33.1% compared to the previous year, and covers financing needs to cover the general budget deficit and repay local and foreign loans according to the specified dates, according to the analytical statement of the draft new state budget.
It is estimated that the expected uses of this borrowing include expenses, acquisition of financial assets and loan repayment of approximately 5 trillion, 541 billion and 400 million pounds (approximately $ 114.96 billion).
Continue Reading🔗
#Education_Sector #Egypt #Egypt_Economy #Egypt_News #Egypt_s_Debt #Egyptian_Constitution #Egyptian_Government #Health_Sector
This borrowing represents an increase of 33.1% compared to the previous year, and covers financing needs to cover the general budget deficit and repay local and foreign loans according to the specified dates, according to the analytical statement of the draft new state budget.
It is estimated that the expected uses of this borrowing include expenses, acquisition of financial assets and loan repayment of approximately 5 trillion, 541 billion and 400 million pounds (approximately $ 114.96 billion).
Continue Reading
#Education_Sector #Egypt #Egypt_Economy #Egypt_News #Egypt_s_Debt #Egyptian_Constitution #Egyptian_Government #Health_Sector
Please open Telegram to view this post
VIEW IN TELEGRAM
The Egyptian government announced a deadline for foreigners residing on its territory to regularize their status and obtain official residency, until September 30, 2024.
This initiative aims to ensure that all foreigners residing in Egypt have legal status, while benefiting from all government services and rights provided by the state.
The government has issued a special invitation to foreigners who enjoy exemption from the residence fee to register and obtain their exemption card.
This measure follows the decision of the Prime Minister stating that after September 30, 2024, all services for foreigners who did not receive an exemption card will be suspended.
The government also confirmed that after the expiration of the deadline on September 30, 2024, legal action will be taken against foreigners who have not complied with the modernization of their legal status, and they will be treated as violators of Egyptian residency regulations.
It is noteworthy that the number of expatriates residing in Egypt, according to some international estimates, reaches more than 9 million “guests and refugees” representing about 133 countries, 50.4% of males and 49.6% of females, with an average age of 35 years, representing 8.7% of the size of Egypt’s population.
#Egypt #Egyptian_Cabinet #Egyptian_Government #Foreigners #Refugee #Residence #Status_Settlement
This initiative aims to ensure that all foreigners residing in Egypt have legal status, while benefiting from all government services and rights provided by the state.
The government has issued a special invitation to foreigners who enjoy exemption from the residence fee to register and obtain their exemption card.
This measure follows the decision of the Prime Minister stating that after September 30, 2024, all services for foreigners who did not receive an exemption card will be suspended.
The government also confirmed that after the expiration of the deadline on September 30, 2024, legal action will be taken against foreigners who have not complied with the modernization of their legal status, and they will be treated as violators of Egyptian residency regulations.
It is noteworthy that the number of expatriates residing in Egypt, according to some international estimates, reaches more than 9 million “guests and refugees” representing about 133 countries, 50.4% of males and 49.6% of females, with an average age of 35 years, representing 8.7% of the size of Egypt’s population.
#Egypt #Egyptian_Cabinet #Egyptian_Government #Foreigners #Refugee #Residence #Status_Settlement
The Administrative Court at the State Council in Egypt is holding a hearing today, Sunday, on a lawsuit seeking to revoke the license granted to the “Rahn German School” due to its teaching of content related to homosexuality.
The lawsuit was filed by lawyer Amr Abdel Salam, accusing the school of teaching content that promotes acceptance and tolerance towards homosexuality to sixth grade students.
The court allowed the lawyer to obtain an official copy of the technical report prepared by a special committee delegated by the Ministry of Education.
The committee was tasked with examining the complaint submitted by some parents about the educational content in question, as well as providing clarification from the ministry on the measures taken in this regard.
In his lawsuit, lawyer Abdel Salam stated that the German School of Rann operates under the supervision of one of the German international associations and follows the international protocol adopted between the Egyptian government and the International Baccalaureate Organization to provide a specialized educational curriculum that is compatible with international standards.
The legal debate comes amid growing interest in education, cultural diversity and tolerance in educational communities, with the current controversy pointing to growing tension over how to deliver educational content related to gender and identity issues.
The German Run School is classified as one of the international model schools in Egypt and offers its curricula in Arabic and is under the full supervision and control of the Egyptian Ministry of Education.
continue Reading🔗
#Egypt #Egyptian_Government #Egyptian_Judiciary #Egyptian_Ministry_of_Education #LGBTQ #Rahn_German_School
The lawsuit was filed by lawyer Amr Abdel Salam, accusing the school of teaching content that promotes acceptance and tolerance towards homosexuality to sixth grade students.
The court allowed the lawyer to obtain an official copy of the technical report prepared by a special committee delegated by the Ministry of Education.
The committee was tasked with examining the complaint submitted by some parents about the educational content in question, as well as providing clarification from the ministry on the measures taken in this regard.
In his lawsuit, lawyer Abdel Salam stated that the German School of Rann operates under the supervision of one of the German international associations and follows the international protocol adopted between the Egyptian government and the International Baccalaureate Organization to provide a specialized educational curriculum that is compatible with international standards.
The legal debate comes amid growing interest in education, cultural diversity and tolerance in educational communities, with the current controversy pointing to growing tension over how to deliver educational content related to gender and identity issues.
The German Run School is classified as one of the international model schools in Egypt and offers its curricula in Arabic and is under the full supervision and control of the Egyptian Ministry of Education.
continue Reading
#Egypt #Egyptian_Government #Egyptian_Judiciary #Egyptian_Ministry_of_Education #LGBTQ #Rahn_German_School
Please open Telegram to view this post
VIEW IN TELEGRAM
Yasser Abbas, deputy CEO of the General Authority for Investment and Free Zones in Egypt, said that the number of establishments operating in the tourism sector in Egypt has reached more than 11.5 thousand establishments.
These facilities include hotels, tourist villages, resorts, tourism transport companies, marketing and others, with a total investment of EGP 182 billion.
Abbas said in a press statement that Egypt has all the attractive ingredients for investment in the tourism sector, noting that the country received 14.9 million tourists last year.
He pointed out that the authority has supported a number of partnerships between the public and private sectors in the tourism sector, especially in the field of ecotourism, due to the Egyptian government's belief in the ability of the tourism sector to stimulate growth in other economic sectors, and its ability to provide sustainable flows of foreign exchange.
The Egyptian government seeks to enhance its revenues from tourism, as Egypt launched in November 2022 the National Strategy for Tourism Development, which includes providing access to the Egyptian tourist destination significantly, doubling the number of airline seats coming to Egypt in cooperation with the Ministry of Civil Aviation, improving the tourism investment climate in Egypt, increasing the number of hotel rooms in it during the coming period, in addition to working to improve the tourism experience in Egypt, and raise the quality of tourism services provided in it.
#Egypt #Egypt_News #Egyptian_Government #Egyptian_Tourism_Sector #Investment_in_Egypt #Tourism_in_Egypt
These facilities include hotels, tourist villages, resorts, tourism transport companies, marketing and others, with a total investment of EGP 182 billion.
Abbas said in a press statement that Egypt has all the attractive ingredients for investment in the tourism sector, noting that the country received 14.9 million tourists last year.
He pointed out that the authority has supported a number of partnerships between the public and private sectors in the tourism sector, especially in the field of ecotourism, due to the Egyptian government's belief in the ability of the tourism sector to stimulate growth in other economic sectors, and its ability to provide sustainable flows of foreign exchange.
The Egyptian government seeks to enhance its revenues from tourism, as Egypt launched in November 2022 the National Strategy for Tourism Development, which includes providing access to the Egyptian tourist destination significantly, doubling the number of airline seats coming to Egypt in cooperation with the Ministry of Civil Aviation, improving the tourism investment climate in Egypt, increasing the number of hotel rooms in it during the coming period, in addition to working to improve the tourism experience in Egypt, and raise the quality of tourism services provided in it.
#Egypt #Egypt_News #Egyptian_Government #Egyptian_Tourism_Sector #Investment_in_Egypt #Tourism_in_Egypt
The Egyptian government recently moved to oblige ministries to give up their dollar balances to the Central Bank in exchange for the Egyptian pound, with the exception of immediate dollar payment obligations.
According to Karim El-Omda, professor of international economics, this decision aims to increase the state’s cash reserves, and is a sound step to support the Egyptian economy.
The mayor explained that there are several government companies and ministries that achieve dollar revenues and profits, such as the Suez Canal, the Ministry of Electricity, and the Phosphate Production Company, which means that waiving these dollar revenues will contribute to increasing the state’s cash reserves, especially since the government has pledged to provide dollar supplies to these entities to ensure the continuity of… It worked without a hitch.
The mayor pointed out the need to take similar measures with schools and universities that receive tuition fees in dollars, as these institutions cause an increase in demand for the dollar in the parallel market, which weakens the government’s efforts to control the black market and negatively affects the Egyptian economy.
Continue Reading 🔗
#Egypt #Egypt_News #Egyptian_economy #Egyptian_Government #US_Dollar
According to Karim El-Omda, professor of international economics, this decision aims to increase the state’s cash reserves, and is a sound step to support the Egyptian economy.
The mayor explained that there are several government companies and ministries that achieve dollar revenues and profits, such as the Suez Canal, the Ministry of Electricity, and the Phosphate Production Company, which means that waiving these dollar revenues will contribute to increasing the state’s cash reserves, especially since the government has pledged to provide dollar supplies to these entities to ensure the continuity of… It worked without a hitch.
The mayor pointed out the need to take similar measures with schools and universities that receive tuition fees in dollars, as these institutions cause an increase in demand for the dollar in the parallel market, which weakens the government’s efforts to control the black market and negatively affects the Egyptian economy.
Continue Reading 🔗
#Egypt #Egypt_News #Egyptian_economy #Egyptian_Government #US_Dollar
The Egyptian government intends to grow 3.5 million acres of wheat in the 2024-2025 fiscal year, compared to 3.2 million acres in the current fiscal year.
The Minister of Planning, Hala Al-Saeed, explained that this step comes as part of a plan to expand the storage capacity of wheat silos to reach 5.2 million tons, compared to 3.9 million tons in the previous fiscal year.
Al-Saeed confirmed that Egypt also aims to increase the area of land cultivated with strategic crops, to reach 2.8 million acres of corn and 220,000 acres of beans, adding that enhancing the productivity of these crops will reduce the food gap and limit the import of agricultural products.
The Minister also explained that the plan includes adding about 750,000 acres to agricultural areas in the fiscal year 2024-2025, bringing the total to about 10.7 million acres.
Continue Reading🔗
#Egypt #Egyptian_economy #Egyptian_Government #Egyptian_Ministry_of_Planning #Hala_Saeed #Wheat_Cultivation
The Minister of Planning, Hala Al-Saeed, explained that this step comes as part of a plan to expand the storage capacity of wheat silos to reach 5.2 million tons, compared to 3.9 million tons in the previous fiscal year.
Al-Saeed confirmed that Egypt also aims to increase the area of land cultivated with strategic crops, to reach 2.8 million acres of corn and 220,000 acres of beans, adding that enhancing the productivity of these crops will reduce the food gap and limit the import of agricultural products.
The Minister also explained that the plan includes adding about 750,000 acres to agricultural areas in the fiscal year 2024-2025, bringing the total to about 10.7 million acres.
Continue Reading
#Egypt #Egyptian_economy #Egyptian_Government #Egyptian_Ministry_of_Planning #Hala_Saeed #Wheat_Cultivation
Please open Telegram to view this post
VIEW IN TELEGRAM
The General Investment Authority reported that the “economic reform” program recently implemented by the Egyptian government resulted in making Egypt first in Africa and second in the Arab world in receiving foreign investments.
Ahmed Zuhair, head of the Authority’s Promotion Department, said during the “Solar Energy and Direct Storage in Africa” conference that last year, despite its difficulty, witnessed the establishment of 30,000 new companies in Egypt.
Zuhair pointed out that these companies expanded their business despite the difficult economic conditions and lack of hard currency, due to their confidence in the Egyptian government and the procedures followed.
Continue Reading🔗
#Ahmed_Zuhair #Egypt_News #Egyptian_Economic_Reform_Program #Egyptian_economy #Egyptian_Government #Foreign_Investments #General_Authority_for_Investment #Head_of_Promotion_Department #Ras_El_Hekma_Deal
Ahmed Zuhair, head of the Authority’s Promotion Department, said during the “Solar Energy and Direct Storage in Africa” conference that last year, despite its difficulty, witnessed the establishment of 30,000 new companies in Egypt.
Zuhair pointed out that these companies expanded their business despite the difficult economic conditions and lack of hard currency, due to their confidence in the Egyptian government and the procedures followed.
Continue Reading
#Ahmed_Zuhair #Egypt_News #Egyptian_Economic_Reform_Program #Egyptian_economy #Egyptian_Government #Foreign_Investments #General_Authority_for_Investment #Head_of_Promotion_Department #Ras_El_Hekma_Deal
Please open Telegram to view this post
VIEW IN TELEGRAM
Egyptian Prime Minister Mostafa Madbouly submitted his government’s resignation to President Abdel Fattah El-Sisi on Monday.
Al-Sisi assigned Madbouly to form a new government that includes distinguished competencies and expertise to achieve specific goals.
In his assignments, Sisi focused on a number of goals, including preserving Egyptian national security in light of regional and international challenges, and placing the issue of building the Egyptian human being at the top of priorities, especially in the fields of health and education.
Al-Sisi directed the new government towards enhancing political participation and developing security, stability and combating terrorism issues, and called for developing culture and national awareness and consolidating the concepts of citizenship and societal peace.
Continue Reading🔗
#Abdel_Fattah_Al_Sisi #Egypt #Egypt_News #Egyptian_Cabinet #Egyptian_economy #Egyptian_Government #Egyptian_President #Mustafa_Madbouly
Al-Sisi assigned Madbouly to form a new government that includes distinguished competencies and expertise to achieve specific goals.
In his assignments, Sisi focused on a number of goals, including preserving Egyptian national security in light of regional and international challenges, and placing the issue of building the Egyptian human being at the top of priorities, especially in the fields of health and education.
Al-Sisi directed the new government towards enhancing political participation and developing security, stability and combating terrorism issues, and called for developing culture and national awareness and consolidating the concepts of citizenship and societal peace.
Continue Reading
#Abdel_Fattah_Al_Sisi #Egypt #Egypt_News #Egyptian_Cabinet #Egyptian_economy #Egyptian_Government #Egyptian_President #Mustafa_Madbouly
Please open Telegram to view this post
VIEW IN TELEGRAM
Algerian President Abdelmadjid Tebboune terminated the duties of Algeria’s ambassador to Cairo, Hassan Rabhi, just one day after he handed over his credentials to the Egyptian government, and less than a week after assuming his duties.
Diplomatic sources reported that President Tebboune issued a decision to terminate Ambassador Rabhi’s duties the day before yesterday, Thursday, making him one of the fastest changes in the Algerian diplomatic corps.
Rabhi was appointed to this position at the beginning of last April, succeeding Ambassador Abdelaziz bin Ali Sharif, and on April 12, the Algerian Foreign Ministry announced the Egyptian government’s approval of his appointment as Ambassador Extraordinary and Plenipotentiary of the Republic of Algeria to the Arab Republic of Egypt.
Continue Reading🔗
#Abdel_Majeed_Tebboune #Algeria #Algeria_News #Algerian_Embassy_in_Egypt #Algerian_Foreign_Ministry #Cairo #Egypt #Egyptian_Government #Hassan_Rabhi
Diplomatic sources reported that President Tebboune issued a decision to terminate Ambassador Rabhi’s duties the day before yesterday, Thursday, making him one of the fastest changes in the Algerian diplomatic corps.
Rabhi was appointed to this position at the beginning of last April, succeeding Ambassador Abdelaziz bin Ali Sharif, and on April 12, the Algerian Foreign Ministry announced the Egyptian government’s approval of his appointment as Ambassador Extraordinary and Plenipotentiary of the Republic of Algeria to the Arab Republic of Egypt.
Continue Reading
#Abdel_Majeed_Tebboune #Algeria #Algeria_News #Algerian_Embassy_in_Egypt #Algerian_Foreign_Ministry #Cairo #Egypt #Egyptian_Government #Hassan_Rabhi
Please open Telegram to view this post
VIEW IN TELEGRAM
Recent reports from “UBS” Bank stated that Egypt may witness a jump in the inflow of foreign currencies thanks to foreign direct investments, remittances from Egyptians abroad, and improved revenues from the Suez Canal.
The report developed three scenarios, the most optimistic of which indicates a 30% increase in foreign investments and remittances by Egyptians abroad compared to the years 2021 and 2022. These transfers will raise the total foreign currency entering the country to $20 billion in the next sixteen months, which will help the Central Bank of Egypt to strengthen its reserves. Cash until 2025.
The report stated that the less optimistic scenario shows reduced access to markets and a slow recovery in Suez Canal revenues, leading to net external flows ranging between $2 and $3 billion, which puts pressure on cash reserves.
Continue Reading🔗
#Central_Bank_of_Egypt #Dollar #Egypt #Egyptian_economy #Egyptian_Government #Suez_Canal
The report developed three scenarios, the most optimistic of which indicates a 30% increase in foreign investments and remittances by Egyptians abroad compared to the years 2021 and 2022. These transfers will raise the total foreign currency entering the country to $20 billion in the next sixteen months, which will help the Central Bank of Egypt to strengthen its reserves. Cash until 2025.
The report stated that the less optimistic scenario shows reduced access to markets and a slow recovery in Suez Canal revenues, leading to net external flows ranging between $2 and $3 billion, which puts pressure on cash reserves.
Continue Reading
#Central_Bank_of_Egypt #Dollar #Egypt #Egyptian_economy #Egyptian_Government #Suez_Canal
Please open Telegram to view this post
VIEW IN TELEGRAM