Over the course of this week Egypt has taken several steps towards setting a new path towards an economic recovery and rebuild, after a recent turbulent period of political instability and power shifts. On May 25th Prime Minister of Egypt Essam Sharaf held a nationwide televised address, where he indicated that the government is currently working on several economic and tax policy changes aimed at improving the country’s economic stability and assure future development. The Prime Minister assured taxpayers that throughout any ... Read More

Growth in Egypt’s economic activity and effectiveness of recent tax reforms have led to an extra EGP 12 billion (approx. USD 2.11 billion) in the Government’s budget during the previous fiscal year. Throughout the 2009 fiscal year, the Egyptian economy grew by an estimated 5.2 percent, leading to a 6 percent increase in tax revenues, when compared to the previous year. The latest figures were released by Youssef Boutros-Ghali, Finance Minister of Egypt, in a media-statement on July 18th. According to his statement, ... Read More