Egypt to pass VAT, payroll cuts within weeks, Finance Ministry says
A package introducing value-added tax and public-sector payroll cuts has been endorsed by officials at the highest level, and the Parliament is expected to pass the proposal within weeks, Head of Public Debt at the Ministry of Finance, Samy Khallaf, said. Egypt is also planning to tap the international market for USD3-5bn, he added. These measures are part of economic reforms that will be approved by end of month, according to a senior government official. (Bloomberg)
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