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Tuesday, 8 January 2019

What we’re tracking this week and beyond

LEGISLATION WATCH- The Social Solidarity Ministry will present a draft of the new Social Welfare Act to the House of Representatives “within days,” Minister Ghada Wali said on Sunday, according to Al Mal. The bill, if passed, would require the government to provide families eliminated from the Takaful or Karama social welfare programs. It would also see the introduction two new cash subsidy programs — Igatha and Forsa — in addition to amending the overall framework governing social welfare and pensions programs, Deputy Social Solidarity Minister Nevine El Kabbag had said in October. Kabbag said at the time that the ministry would present the draft act to the Madbouly Cabinet as soon as ministry officials complete their final review of the bill.

Supply Minister Ali El Moselhy will present his ministry’s food security strategy to the Madbouly Cabinet “soon,” the minister said at a press conference on Sunday, according to a local source. The new strategy will track the country’s commodity production and consumption rates to able crop production forecasts and better anticipate shortages. The ministry expects the new strategy to reduce the country’s EGP 50 bn wheat subsidy bill by 10-15%, according to El Moselhy.

Are we hosting the African Cup of Nations? The football supremos at CAF will reveal tomorrow whether Egypt or South Africa will host this year’s African Cup of Nation.

Egypt, Sudan begin trial runs on electricity grid connection project in three weeks: Egypt and Sudan will begin trial runs for the first phase of a USD 60-70 mn electricity interconnection project in two weeks at a capacity of 100 MW, local news reported. A government source said 95% of the project has been completed.

A government committee mandated with defining Egypt’s informal economy is set to meet for the first time this month. The committee’s work comes in light of the Madbouly government’s bid to convince the World Bank and the IMF to agree to include the informal economy in calculations of Egypt’s GDP.

Bond issuance plans to be made clear this month: Finance Minister Mohamed Maait said last month that the government would unveil its international bond issuance plans for 1Q2019 in January.

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