Egypt rules out tax increases

Egypt's government will not implement a series of planned tax increases until it completes a dialogue with different parts of society, Al Mal newspaper has quoted Planning Minister Ashraf Al Araby as reaffirming.

The government has begun a series of meetings with businessmen, trade unions, non-governmental organisations and other groups to persuade them of the need for austerity measures to resolve the country's financial crisis.

Earlier this month it announced increases in sales tax on a range of goods and services, only for President Mohammed Mursi to suspend them within hours as the country prepared for a referendum.

The unpopular measures are deemed necessary to secure $4.8 billion Egypt is seeking from the International Monetary Fund. The government has asked the IMF to delay by a month a meeting it had scheduled to approve the loan to allow it to seek more support for the moves.