The global pandemic would have been more difficult for Egypt if not for comprehensive reforms on taxes, budgets and foreign exchange that the country undertook, said Rania al-Mashat, minister for international cooperation.
A man wearing a face mask rides a motorcycle in Cairo, Egypt, on May 3, 2020."We expect the fiscal deficit in FY 2019/20 to widen from 8.0% of GDP in FY2018/19 to 8.5% in FY2019/20 because of lower growth in tax revenues and scaled-up spending," he wrote in a report dated May 3.remittance inflows and Suez Canal receipts will also widen the country's current account deficit, he predicted.
Egypt has approached the IMF for financial support as the virus puts pressure on its economy, especially tourism, which accounts for more than 10% of GDP. While the government announced on Sunday that hotels can begin to operate at 25% capacity, Emirates NBD analysts wrote that The country's Purchasing Managers' Index also made a "dramatic fall" to 29.7, well below the neutral 50 level, wrote Khatija Haque, the bank's head of MENA research.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
China has questions to answer over the coronavirus outbreak, UK minister saysThe U.K. has added to international pressure on China to answer questions over information it gave the world about the coronavirus outbreak.
Lire la suite »
Singapore is not yet halfway through its coronavirus outbreak, says ministerMigrant workers living dormitories have accounted for around 87.6% of Singapore's total 19,410 confirmed cases as of Tuesday, according to the health ministry.
Lire la suite »
Coronavirus Disease 2019 (COVID-19)First Responders/Health Providers: New CDC instructional videos show how to safely put on (don) and take off (doff) recommended PPE for caring for COVID19 patients. To see the videos and learn more, please visit:
Lire la suite »
Coronavirus Disease 2019 (COVID-19)DYK: People with asthma may be at higher risk of getting very sick from COVID19. Wearing a face covering can help protect those around you who may be at higher risk. Learn more from CDCgov: WorldAsthmaDay
Lire la suite »
Here's why some people are not wearing masks during the coronavirus crisisHere's why some people are not wearing masks during the coronavirus crisis, according to experts.
Lire la suite »