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Minister of Finance Momtaz Saeed affirmed that the Egyptian economy is capable of recovering and regaining confidence locally and internationally in a short period. The crisis of the Egyptian economy is related to security and political instability, the minister said, noting that the production and services sectors are expected to restore full capacity during the second half of this year.
In a statement to Al Ahram, the Minister pointed out that State Budget situation is getting better gradually because of the improvement of the state revenues, especially those of taxes which reached EGP 123 billion of the targeted EGP 200 billion. Tax arrears which were collected reached EGP 2.5 billion, he said.
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