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News

Engineering exports increase by 54% in H1 2021

Overall, engineering products’ exports saw positive growth, with an increase of 28% in FY 2020/2021

Egypt’s manufacturing index declines 5.85% in May

The index’s benchmark, which excludes crude oil and petroleum products, recorded an initial 116.84 in March from 104.09 in February

Advance cargo clearance available by paying 30% of taxes in advance: FinMin

Importers and their agents will be able to pay 30% of dues in advance for their cargo before its arrival to Egyptian ports as part of efforts to speed up customs procedures

Moody’s maintains Egypt’s B2 rating with a stable outlook, economy to grow 5.5%

In a separate statement, Minister of Finance Mohamed Maait pointed out that the decision reflects continued confidence for the Egyptian economy

Egypt’s public investments up 50.5% YoY, treasury-financed investments up 28% YoY:FinMin

The latest allocated state budget is 6x higher than previously set aside in FY 2013/2014