Egypt

Egypt’s attempts to boost its taxation revenue began to pay off in 2017. In the first quarter of FY 2017/18 total tax revenue expanded to LE88.6bn ($5.8bn), according to the Ministry of Finance (MoF), a significant advance on the LE57bn ($3.8bn) of the same period in the previous year and 1% more than the ministry’s target for income growth....

The late 1980s and early 1990s marked a time of economic change as Egypt began moving towards more market-oriented policies and streamlining its public sector through large-scale privatisation and restructuring, with at one point more than 300 state assets slated for divestment. However, a perceived mishandling of the process meant that by the...

The introduction of capital gains tax on equities has been one of the more challenging areas of Egypt’s wide-ranging tax reforms. Introduced in July 2014 and implemented in March of the following year, the 10% levy was subsequently postponed for two years as a result of objections from traders and brokers – a decision which lead to criticism...

Financial inclusion has become a more prominent component of government strategy over recent years, as authorities work to meet the demands for social justice which have arisen from Egypt’s recent political transition. Elsewhere on the continent, microfinance regulation has also played a large role in raising financial inclusion across...

As Egypt enters 2018, a newly liberalised currency and the recent implementation of a much-anticipated investment framework have left it well positioned for continued economic expansion: the IMF expects the country’s GDP growth to reach 6% over the medium term. However, a structural fiscal deficit, high unemployment levels and socio-economic...