Egypt’s president, gov’t stand for lower public debt

Cairo – Mubasher: The Egyptian President and government are pushing ahead with the reduction of public debt, finance minister Mohamed Maait said at the Euromoney Conference on Tuesday. 

According to data from the Central Bank of Egypt (CBE), external debt rose 2.3% quarter-on-quarter to $80.8 billion during the first three months of the fiscal year 2017/2018.

The government revenues are increasing above expectations and are forecast to reach EGP 989 billion, Maait revealed.

In July, the minister stated that the government revenue surged 18.5% in FY 2017/2018, hitting EGP 781.1 billion.

Mubasher Contribution Time: 04-Sep-2018 10:49 (GMT)
Mubasher Last Update Time: 04-Sep-2018 10:56 (GMT)