Egypt’s Public Treasury has disbursed EGP 115 bln in green incentives to replace 5000 obsolete taxis and private cars as well as 130 minibuses with natural gas vehicles.

A summary of last two week’s major macroeconomic updates and indicators brought to you on one page for your convenience.

The House of Representatives has approved proposed fees on gasoline and its derivatives.

The Minister of Finance, Mohamed Maait, said that the new fees that will be imposed on octane and diesel will not increase their current prices.

The government will delay the purchase of the hedging contract designed to guard against rising oil prices, despite agreeing a deal with several investment banks.

Debts owed by the Egyptian energy sector have reached around EGP 800 billion.

Egyptian Minister of Finance, Amr El Jarhi, will meet the Asian Infrastructure Investment Bank (AIIB)'s Chairman for Policies and Strategies, Uh Akim von Amsberg, and his accompanying delegation.

Egyptian Minister of Finance, Amr El Garhy, stated that the North African Country plans to receive EGP 6b out of selling state-owned firms' stakes in the Egyptian Stock Exchange (EGX) during fiscal year 2017/2018

The cabinet confirmed that Egypt’s petroleum based products are to be exempted from the value-added tax (VAT), which is yet to be presented to the parliament.