World Bank's Loan Gives Credibility to Egypt's EconomySource: www.export-egypt.com 12/15/2015, Location: Africa |
|
|
|
|
|
Prime Minister Sherif Ismail said that the World Bank's approval of a US$3-billion loan gives credibility to Egypt and its economy.
"The three-year loan is aimed at providing Egypt with its import needs," Ismail told a press conference. "Egypt's imports are valued at $66 billion, which requires paying attention to the national industry," he added. He pointed out that the loans are temporary measures to provide the basic needs necessary for Egypt to recover. "Several measures have been taken to support the exports," he said. Egypt is targeting a GDP growth rate of close to 6 percent and a reduction in its budget deficit to 8.5 percent by the end of the 2017-18 financial year, Ismail added. As for an Egyptian-Saudi coordination meeting, Ismail said that the Saudi Deputy Crown Prince, the Second Deputy Prime Minister and the Minister of Defense will start a visit on Tuesday within the framework of the friendly relations. During the visit, a number of projects and memorandums of understanding that are of interest to the Saudi side will be discussed in the fields of tourism, agriculture, energy, education, electricity linkage, housing and double taxation, he added. He went on to say that businessmen positively responded to government requests to reduce the prices of commodities. "Negotiations with businessmen were based on Egypt's interest, not coercion," he stressed. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/9/2024 - South Korean Ambassador to Cairo Kim Yonghyon praised steps taken by the Egyptian government to attract foreign direct investment.
South Ko... |
Egypt >> 11/9/2024 - Chairman of the Egyptian Financial Regulatory Authority (FRA) Mohamed Farid took part in the International Organization of Securities Commissions (IOS...
|
|
Egypt >> 11/9/2024 - Minister of Housing, Utilities and Urban Communities Sherif el Sherbini had a meeting with Cameroon's Minister of Housing and Urban Development Celest...
|
Egypt >> 11/9/2024 - The Micro, Small and Medium Enterprise Development Agency (MSMEDA) is cooperating with the World Bank (WB) to upgrade the Egyptian Entrepreneurship ec...
|
|
Egypt >> 11/9/2024 - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir had a meeting with Hayrettin Akgun Okay, CEO of...
|
Egypt >> 11/9/2024 - Minister of Planning, Economic Development and International Cooperation Rania el Mashat said that 42% of the public investments of the plan of the cu...
|
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
