imf loan will help redress budget deficit
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Minister of Planning Ashraf el Araby

IMF loan will help redress budget deficit

Egypt Today, egypt today

Egypt Today, egypt today IMF loan will help redress budget deficit

Minister of Planning Ashraf el Araby
Cairo - Arab Today

Minister of Planning Ashraf el Araby on Wednesday asserted that a recent agreement signed between Egypt and the International Monetary Fund on lending Egypt 12 billion dollars over three years will help restore financial and monetary stability.

At a press conference that was held here, he added that the agreement will also help redress the budget deficit. He noted, meanwhile, that several major challenges are still facing the national economy, particularly regarding the growth rate and employment.

He explained that Egypt needs to attain a growth rate of 6-7 percent annually. He added that efforts are being exerted to attract more investments, a state of affairs that requires establishing political, economic and financial stability and security.

He affirmed that major political and security achievements were realized so far.

The foreign currency market in Egypt is suffering now due to sluggish tourism and decrease in the Suez Canal revenues and the remittances of Egyptians abroad, he pointed out.

This negatively affects the balance of trade and balance of payments, he added. 

He further noted that the IMF loan will enhance the hard currency reserves with the Central Bank of Egypt.

Source: MENA

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf loan will help redress budget deficit imf loan will help redress budget deficit



GMT 21:06 2017 Monday ,01 May

Will Smith at all-star Jazz Day in Cuba

GMT 06:25 2017 Monday ,27 November

Bali raises volcano alert to highest level

GMT 12:45 2018 Monday ,26 November

Israeli forces close entrance of village in Ramallah

GMT 12:14 2018 Monday ,08 October

HM King congratulates Ugandan President

GMT 13:49 2017 Thursday ,17 August

Alibaba posts 94% surge in quarterly profit

GMT 08:47 2017 Saturday ,10 June

CDD responds to 236 various incidents

GMT 00:31 2015 Saturday ,16 May

Canada plans 30% CO2 emissions cut by 2030

GMT 03:31 2017 Wednesday ,22 February

‘Man-made’ climate change a major woman’s problem

GMT 10:42 2017 Thursday ,16 November

Algeria FM leaves Cairo following tripartite meeting

GMT 11:08 2017 Tuesday ,03 October

Moscow, Riyadh willing to boost cooperation
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday