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The Ministry of Finance of Egypt is part of the Cabinet of Egypt. It is responsible for increasing the rate of economic growth and job creation, thus contributing to raising the standard of living of the individual and society as a whole. The current minister is Mohamed Maait. [1] [2] It is located in Ministry of Finance Towers, Nasr City.
This unification was intended to foster Egypt's financial sector. [1] Establishing the new authority is part of at a series of reforms aimed to strengthen the stability and security of the non-banking financial sector in Egypt and its interoperability with the banking sector.
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Formulates and implements Egypt's banking policy, monetary policy and credit policy; Issues banknotes; Manages gold and the foreign exchange reserves of the Arab Republic of Egypt; Regulates and manages Egypt's presence in the foreign exchange market; Supervises the national payments system; Manages Egypt's public and private external debt.
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In 1952 Egypt’s private sector accounted for 76 percent of economic investment. Following the nationalization plans carried out by President Gamal Abdel Nasser in the effort to build a post-independence socialist state, this percentage drastically shifted within a few decades to government investment accounting for over 80 percent of economic investment. [1]
The market is underestimating how much the Federal Reserve's will cut rates in 2025, Goldman Sachs says. The Fed fund rate will drop to 3.25-3.50% by the end of 2025, the bank estimates.
In the long history of financial frauds, Enron ranks near the top of the list, with the once high-flying energy trading company suddenly unraveling in a web of lies and accounting sleight-of-hand ...