Friday , March 5 2021

Egyptian Minister of Finance: Results of the economic reform will appear in 2019-2020. The budget for the latest news

Egyptian budget 2019-2020 In the financial year, the results of the economic reform program implemented by the government in recent years are shown.

Under the IMF program, the Egyptian government is undertaking economic reforms, including the November 2016 exchange rate liberalization, tax increases, reduced subsidies and legislation to promote investment.

"Egypt has implemented a sophisticated economic reform program, only a few countries can do this," he told the Egyptian-Lebanese Business Association's seminar last night.

"This is one of the most difficult years regarding the impact of sovereign debt on the Treasury, as we have been dependent on current borrowing costs for many years rather than on real income."

The gross domestic debt at the end of June 2018 was 3 965 trillion pounds (205.7 billion dollars), compared to 3,161 trillion pounds a year ago. At the end of June, the external debt amounted to 92.64 billion dollars, an increase of 17.2% over the corresponding period of the previous year.

At the end of October, Egyptian foreign reserves rose to 44.501 billion dollars.

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