Archive for International Cooperation Fayza Abouelnaga

Bank employee accuses former officials of receiving bribes

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December 5th, 2012

Several top officials who served under ousted President Hosni Mubarak accepted bribes in the form of gifts from the National Development Bank chairman, according to a former bank employee.

Mohamed Hassan Gharib filed the report claiming the bank chairman sent bribes in the form of gifts from the bank's assets to former Prosecutor General Abdel Meguid Mahmoud and former Ministers of Petroleum Sameh Fahmy, Agriculture Amin Abaza and International Cooperation Fayza Abouelnaga during Mubarak's tenure. The former bank employee reportedly included documents from the bank and the Central Auditing Authority supporting his claims.

Prosecutor General Talaat Ibrahim Abdallah has referred the report to the first attorney general for the East Cairo Prosecution.

President Mohamed Morsy last month replaced Mahmoud with Abdallah as part of a declaration that expanded the president's powers, sparking ongoing protests.

Edited translation from Al-Masry Al-Youm

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Abouelnaga: FJP stalled IMF loan, Cabinet behind economic recovery

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July 16th, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga said on Monday that "the dissolved Parliament’s attitude was behind the failure to sign the agreement with the IMF to lend Egypt US$3.2 billion to support the budget."

During a press briefing after a meeting for the Cabinet, Abouelnaga claimed, "The stance of Freedom and Justice Party who was representing the majority in People’s Assembly was the obstruction of an agreement on the reform program of Egypt, which had been prepared by the government of Prime Minister Kamal al-Ganzouri."

Now an agreement with IMF is up to the next government, added Abouelnaga. The objective of the agreement with the fund was not only to get a loan, but more importantly to boost Egypt’s economy and attract foreign investments, Abouelnaga said.

Abouelnaga said that because of the work of the Cabinet, the economy began to recover and that the government was able to stop the depletion of the cash reserves.

"We lost US$21 billion since the revolution," she said. "But reserves were increased in the past three months to US$15 billion."

She added that the government was able to maintain the availability of goods at reasonable prices despite projections by Arab and foreign newspapers that Egypt's economy would collapse and that Egypt risks a "revolution of the hungry."

"Egypt’s reduced credit rating was only due to a lack of stability in tourism," she explained.

The minister said all commodities and supplies are available, particularly in co-ops, where supply was increased by 20 percent in preparation for the month of Ramadan.

"The ministry managed to provide LE65 million through international grants and agreements to guarantee the basic needs of citizens," she said.

"We have enough wheat until January 2013," she added, pointing out that the production of wheat this year was 9.5 million tons, compared to 6.5 million tons last year.

"We worked in extremely difficult circumstances and amid ongoing and systematic attack," she said. "But our success is confirmed by figures."

Edited translation from Al-Masry Al-Youm

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Government ready for any scenario after Thursday court ruling, says Abouelnaga

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June 13th, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga on Wednesday declined to comment on what might happen if the Supreme Constitutional Court rules that the parliamentary elections and the Political Isolation Law were not constitutional on Thursday.

"We cannot anticipate things,” she said in a press conference on Wednesday following a cabinet meeting. “The ruling takes priority, and we are ready for any scenario.”

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Minister announces plan to double GDP in 10 years

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June 4th, 2012

The government has devised a pilot plan that aims to double the GDP in 10 years and reduce the unemployment rate by exploiting Egypt's geographical location and expanding beyond the Nile Valley, Minister of Planning and International Cooperation Fayza Abouelnaga said on Monday.

This came in the minister’s presentation of the economic and social development plan for the fiscal year 2012-13.

“The plan starts next year with clear objectives for each of its stages and mechanisms for their implementation,” she said.

Prime Minister Kamal al-Ganzouri had asked the cabinet to develop proposals for maximizing the country's resources.

In April, Abouelnaga said that the government had asked Japan to send an expert in planning and budgeting to help devise the plan, and that the next government is not obliged to adopt it.

Edited translation from Al-Masry Al-Youm
 

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Fuel crisis resolved soon, says minister

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May 31st, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga said on Thursday that the fuel crisis would be resolved in a few hours, as 105,000 tons of gasoline have arrived to be added to the 22,000 tons that have been locally produced, which would be enough for the daily consumption.

“The imported quantities alone are enough for ten days,” the minister told the state-run MENA news service, adding that the Finance Ministry has provided US$100 million for the Petroleum Ministry to provide the market with its needs.

“It was a rumor that made people queue before gas stations,” she said, adding that the petroleum minister confirmed to her that gas stations would be filled by Thursday.

Ahmed Mowafy, director of the supply investigation bureau, blamed private companies for the crisis. “Six of those local and foreign companies gave one-third of their production to factories,” he said.

Mowafy called for new laws that regulate the distribution of fuel.

“Priority should be given to gas stations dealing directly with citizens,” he said, adding that cement factories get a diesel liter for LE1.10 although it costs the government LE5.50.

“They resell it at international prices and make profits.”

He explained that the deficit in diesel fuel production is 27 percent that is imported from abroad, while the total deficit in all petroleum products is 30 percent, but still expected the crisis to end next week.

“We found 64 gas stations last week that hide the fuel or sell it for more than its real price,” he said. “We are talking about 2.6 million liters.”

Mowafy called on the Ministry of Petroleum to recognize the crisis and deal with it with full transparency. “We monitor the tourist areas in particular and notify the ministry so as to avoid security problems.” he said.

Edited translation from MENA

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Government, political forces and activists prepare to observe presidential election

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May 22nd, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga said on Tuesday that the Cabinet is meeting on Wednesday to monitor the presidential election.

Meanwhile, Justice Minister Adel Abdel Hamid is forming an operations room for the same purpose. “People can call 19303 about any problem,” he said.

Prime Minister Kamal al-Ganzouri gave government employees one day off during the election that would be held on Wednesday and Thursday. Each institution would alternate the days so that work is not impeded.

Ganzoury called on all citizens to participate in the election as a duty. He also urged them to accept the decision of the majority. “I hope the election would pass peacefully,” he said. “And I call on all political forces to accept the result.”

Political and revolutionary forces, as well as trade unions, all formed operations rooms in various governorates, while the Judges for Egypt Movement assigned 350 judges and 1,500 observers to monitor the process.

Also, 9,457 observers from 53 different human rights organization accredited by the Presidential Elections Commission would be present at the various polling stations, while many other organizations would still do some monitoring though they did not obtain permits.

The Carter Center allowed 22 international observers from 14 countries to observe the campaigning, the voting and the counting, and Jimmy Carter met with Ganzouri on Tuesday to discuss the democratization process in Egypt.

The Muslim Brotherhood is forming 300 operation rooms and 30 committees to monitor violations, and is dispatching 70,000 representatives to the polling stations. 

Edited translation from Al-Masry Al-Youm

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Egypt: Government approves 2012/13 financial budget

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May 17th, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga said that the government has approved the 2012/13 fiscal year budget and its investment plan, prior to sending it to military council head Field Marshal Hussein Tantawi, who would in his turn refer it to Parliament, state television reported Wednesday. 
Abouelnaga explained that the budget aims to ac

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Government approves 2012/13 budget

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May 16th, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga said that the government has approved the 2012/13 fiscal year budget and its investment plan, prior to sending it to military council head Field Marshal Hussein Tantawi, who would in his turn refer it to Parliament, state television reported Wednesday. 

Abouelnaga explained that the budget aims to achieve growth and social justice, reduce unemployment and focus on sectors that create employment opportunities, such as education, human development, health and scientific research.

“As to the investment plan, it amounts to LE55.6 billion,” she said.

“The Health Ministry was allocated LE3 billion, an increase of LE950 million in the first draft, housing LE7.8 billion and scientific research LE1.2 billion, compared with LE496 million last year,” she added.

Finance Minister Momtaz al-Saeed said that state employees' wages reached LE136.6 billion, an increase by LE19.1 billion or 16.3 percent from last year, and that half of the 400,000 workers who are paid from special funds outside the budget were included in it.

He pointed out that the provision for the administration of governmental institutions was reduced from LE30.1 billion to LE28.8 billion, while subsidies for foodstuff was increased from LE18.9 billion to LE26.6 billion, in order to ensure local purchase of wheat at world prices.

Subsidies of petroleum products were reduced and the balance directed to education and health.

Income totaled LE393.4 billion compared to LE349.6 billion, up by LE43.8 billion or 12.5 percent, constituting 22.1 percent of GDP, and covering 73 percent of the total spending.

Public taxes were increased from LE130.8 billion to LE150 billion, representing 38 percent of the general revenues, while sales taxes were increased to LE83.4 billion compared to LE72.1 billion, up LE11.3 billion or 21.2 percent of the total revenues, while custom duties were increased to LE20.8 billion compared to LE18 billion.

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New budget sets 4% growth target

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May 14th, 2012

The government aims to achieve a growth rate of between 4 and 4.5 percent during the 2012/2013 fiscal year, said Minister of Planning and International Cooperation Fayza Abouelnaga on Monday.

In a press statement, Abouelnaga said this was a “bold” goal under the current circumstances. She explained that the government aims to create greater investment opportunities and correct the problem of energy subsidies without compromising subsidies of basic goods.

Abouelnaga said that Prime Minister Kamal al-Ganzouri on Monday discussed the final draft of the budget for the 2012/2013 fiscal year, the first year of the first post-revolution five-year plan, and that it would be presented to the Cabinet on Wednesday.

She went on to say that the budget reflects social justice as there is a specific economic and social development plan.

Meanwhile, in a press statement, Finance Minister Momtaz al-Saeed said draft budget expenditures amounted to LE537.7 billion as compared to LE476 billion before the recent amendment to the current budget.

Revenues amounted to LE392.4 billion as compared to LE349.6 billion during the current fiscal year. The gap in the next budget amounts to LE145.3 billion.

State employees' wages rose to LE138.6 billion from LE117.5 billion in order to accommodate 25 percent of the state’s expenses that take into account periodic raises and incentives.

Saeed went on to say that the draft subsidies were cut to LE112.5 billion from LE132.9 billion, and that LE26.6 billion had been allocated for subsidized goods, including the LE16.6 billion for wheat and corn procurement.

He added that subsidized petroleum products were estimated at LE70 billion, down from LE95.5 billion in the current budget.

He explained that the reduction will be achieved by rationing subsidies without affecting gas subsidies for low-income citizens.

Edited translation from Al-Masry Al-Youm
 

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Abouelnaga denies govt informed Israel of intention to negotiate gas prices

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April 25th, 2012

Minister of Planning and International Cooperation Fayza Abouelnaga on Wednesday denied that the government informed Israel of its intention to negotiate the gas prices.

“The government is not a party to this dispute,” she said. “It is a commercial dispute between business partners that has nothing to do with politics.”

The Petroleum Authority had terminated the agreement with the Eastern Mediterranean Gas Company, which supplies Egyptian gas to Israel, due to the latter breaching the contract.

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