Back to the complete issue
Thursday, 28 March 2019

Cabinet approves draft budget, gov’t to launch campaign to protect consumers

Cabinet approved yesterday a draft of the state’s FY2019-20 budget, putting GDP growth at 6% by June 2020 and the budget deficit at 7.2%, down from its current 8.4%, Al Hayah Al Youm’s Khaled Abu Bakr highlighted (watch, runtime: 01:40). The new budget allocates EGP 3.9 bn for public housing initiatives and plans to increase the salaries of civil servants, Cabinet Spokesman Nader Saad said (watch, runtime: 08:09). We have a detailed rundown of the cabinet meeting, including key budget highlights, in this morning’s Speed Round, below.

Expect the government to launch a nationwide campaign today aimed at protecting consumers, Yahduth Fi Misr’s Sherif Amer said (watch, runtime: 01:02). Consumer Protection Agency boss Rady Abdel Moeti said that as part of the initiative, 15 cars will drive around Cairo and Giza to collect complaints from consumers (watch, runtime: 03:08).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.