20 December 2012

Egypt: Nation to Offset Budget Deficit, Provide 20,000 Jobs

Industry and Foreign Trade Minister Hatem Saleh said on Wednesday 19/12/2012 new tax rises on some commodities and products aim to offset state budget deficit, adding he expects that deficit may reach to LE 200 billion.

The minister pointed out that the ministry will provide 20,000 job opportunities in fields of food and spinning weaving industries, adding these opportunities will be available in all governorates.

He noted that 18 natural gas companies had already applied to the ministry to import it to operate their plants.

He also said the mazot prices will be reconsidered in favour of the industrial sector and consumers.

Ads by Google

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.