Econ and business were the talk of the town last night
A cabinet infographic highlighting positive economic indicators stole the show on the airwaves last night: Al Hayah Al Youm’s Lobna Assal drew attention to the investment figures, which showed that total public and private investments in reached EGP 721.1 bn in FY 2017-18, up from EGP 514.3 bn the previous year. Foreign direct investment, meanwhile, jumped 84.7%, reaching USD 7.72 bn in FY 2017-2018, up from USD 4.18 bn in FY 2013-2014 (watch, runtime: 04:02).
Why do these numbers matter? Investment means job opportunities, higher GDP and higher incomes, economist Abdel Moneim El Sayed said on Hona Al Asema (watch, runtime: 04:35).
Investment isn’t the only indicator to see improvements: A recent Fitch Ratings report, upgrading Egypt’s long-term foreign-currency issuer default rating to ‘B+’ with a ‘stable’ outlook also earned some airtime last night on Amr Adib’s El Hekaya (watch, runtime: 05:10).
‘Tis the season: The Tax Authority is making its employees work late hours until the end of this month to meet its deadline for finalizing individual tax returns, Hona Al Asema’s Lana Gebril said (watch, runtime: 01:24). Turnout to file tax returns has seen a 20% increase this year compared to last year, Deputy Head of the Tax Authority Mohamed Maher Shehata told Gebril (watch, runtime: 03:46).