Egypt to Offset Budget Deficit, Provide 20,000 Jobs

Industry and Foreign Trade Minister Hatem Saleh said on 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.