Egypt to pay $8bn of its debts during current fiscal yearSource: www.export-egypt.com 7/29/2016, Location: Africa |
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 Egypt will pay USD 8 billion from its debts during the current fiscal year, said Deputy Finance Minister for Financial Policies Ahmed Koujak.
In statements, Koujak added that obtaining a loan from the International Monetary Fund (IMF) will reduce the volume of debt. The ministry seeks to reduce the ratio of public debt by 90% of the GDP, he added. He, meanwhile, said that the biggest challenge before the Egyptian economy is the return of the economic activity. The best social support program is to provide jobs, he added. |
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