He added that the government’s fiscal policy aims to raise the rates of economic growth through a package of measures to stimulate investment and industrial activities. The targeted investments for the next fiscal year are EGP 646bn, 45% of which are to be financed by the government, with 55% to be contributed by the private sector. The government is currently considering a package of measures to mitigate the effects of economic reform on citizens. This came as a result of the 22.6% growth of public revenue to EGP 310.5bn, in addition to rationalisng public expenditure. Moreover, the real estate tax yielded more than EGP 1.5bn in the first eight months of FY 2016/17, rising by EGP 700m from the same period of FY2015/16.

Source: Daily News Egypt April 01, 2017 13:52 UTC