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Tuesday, 30 May 2017

What we’re tracking this week

Sudanese Foreign Minister Ibrahim Ghandour canceled a trip to Egypt that was previously expected this week, Africanews reports. “We told our brothers in Egypt about the postponement of the visit due to internal issues and it would take place later,” Ghandour said in a statement. Sudan’s president had accused Egypt of arming Sudanese rebels (a charge Egypt denies) and is droning on about Shalateen and Halayeb.

We’re still fumbling toward passage of the Finance Ministry’s 2017-18 budget. With MPs having promised to pass the spending bill before the start of the new fiscal year on 1 July (and, coincidentally, just before they go on summer break on 30 June), the House Budget Committee is now looking to probe the budget impact of the surprise 200 bps rate hike. Meanwhile, the House Economics Committee may call Central Bank Governor Tarek Amer to testify about the rate hike “within days,” Al Borsa reports.

Also on the House’s legislative agenda this week: The House Manpower Committee will be discussing amendments to the Labor Act throughout the week, while the Environment Committee will be discussing the establishment of an executive agency to oversee nuclear power projects. The House Agriculture Committee will meet this week with the state’s land reclamation committee as well as officials from the ministries of agriculture and local development to discuss the legal framework for individuals wanting to repossess land they claim has been taken from them illegally.

We’re also keeping our eyes peeled this week for news of the Petroleum Ministry’s gold exploration tender.

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