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Sunday, 14 May 2017

What we’re tracking this week

The House Budget Committee will begin its deliberations on the 2017-18 state budget tomorrow, MP Yasser Omar tells Al Borsa. The ministers of finance and planning should be present for the session.

The Finance Ministry is expected to send a report on the country’s “private funds” (which have been criticized for being graft magnets) to the House Economics Committee tomorrow, Al Borsa reports. The report is being issued after MP Mohamed Elsewedy suggested using a portion of them to ease the burden of the subsidy system.

The house is expected to vote on the new stamp duty on capital market transactions before Wednesday, 17 May. The levy will rise from 0.125% at implementation to 0.175% by year three.

The first expo highlighting Egyptian exports to Africa will be held in Nairobi, Kenya, also from 15-18 May.

Investment Minister Sahar Nasr is pitching Chinese investors tomorrow in Beijing, where she is attending the Belt and Road Forum.

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