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Economic Brief ... 19.3 billion pounds of microfinance balances within a year



Today, Saturday 27-2-2021 witnessed the announcement of a large number of important economic news, whether local or global, most notably the financial control: 19.3 billion pounds, the value of microfinance balances in Egypt in 2020 .. Minister of Planning: The solid waste management system is one of the most important mechanisms for achieving Development goals ... Business youth: foreign investments expected in the education sector after modifying the contribution condition and other news.


Financial control: 19.3 billion EGP is the value of microfinance balances in Egypt in 2020

The Financial Supervisory Authority announced that the value of microfinance balances in Egypt increased to 19.3 billion pounds at the end of 2020 compared to 16.5 billion pounds at the end of the previous year, with a growth rate of 17%, noting that the sector achieved significant growth during the first quarter of the year. 2020 The value of microfinance balances during this period amounted to 17.8 billion pounds compared to 12.7 billion pounds at the end of the first quarter of the previous year, achieving a growth rate of 40%, but as a result of the slowdown in economic activity due to the Coronavirus pandemic, this growth declined to 17%. Annual growth.


Operating two logistical services centers in the ports of Damietta and Alexandria. Reducing the customs release time

The government confirmed that the average time for customs clearance in the ports of Damietta and Alexandria decreased after the operation of the two logistic services centers, which were launched tentatively at the end of last November and December, through the "single window" system of customs that contribute to simplifying and automating procedures, and facilitating the business community, in a way that helps In stimulating the investment climate, maximizing productive capabilities, expanding the export base, facilitating internal and external trade, and improving Egypt's ranking in three important international indicators: "global competitiveness, doing business, and the macroeconomic environment."


Minister of Planning: The solid waste management system is one of the most important mechanisms for achieving development goals

The delegation of the Ministries of Planning, Economic Development and Environment inspected the projects of the solid waste management system in Cairo Governorate, with the aim of following up the implemented projects and ensuring that they enter service in a way that improves the efficiency of the system and improves the environmental, economic and social return from government investments in this field.


The engineering room: it takes two years to implement the new safety standard for the stove

The Chamber of Engineering Industries confirmed that the application of the new standard specifications (1-1-164 / 2017) for a free stand cooker requires a period of not less than two years, especially since its technology does not exist in Egypt at present.


Young businessmen: expected foreign investments in the education sector after modifying the contribution condition

Bassam Al-Shanwany, Vice President of the Egyptian Association of Young Businessmen, said that the government's approval to amend the foreigners ’contribution to the capital of the company invested in international schools comes within the directives of the political leadership to attract foreign investments and transfer expertise from abroad through twinning programs with Egyptian companies, which contributes to In raising the level of education in Egypt, adding that there are foreign investment funds that have a desire to invest in the education sector in light of the competitive advantages enjoyed by the Egyptian market.

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