Egyptian Finance Minister
Egypt’s Minister of Finance Mohamed Maait said Egypt has been the only country in the Middle East and Africa to retain the confidence of the three international assessment institutions of Fitch Ratings, S&P Global Ratings, and Moody’s.
The Egyptian government has launched a financial package worth LE 135 billion as per presidential directives to mitigate the impact of the global impact of the Ukraine crisis on people and economic sectors, Finance Minister Mohamed Maait said.
Egypt will receive the last tranche of its $5.2 billion loan from the International Monetary Fund (IMF) before the end of June, Minister of Finance Mohamed Maait suggested in remarks to Egypt Today.
Finance Minister Mohamed Maait said the Egyptian economy managed to maintain resiliency in the face of the fallout of the coronavirus due to the historic economic reforms over the past few years.
The government electronic revenue rose by 223 percent by the end of July, compared to the same month last year, Finance Minister Mohamed Maeet said in a statement, adding that it reflects continuous state efforts to develop the electronic payment and collection system.
Maeet said the report affirms that partial closure Egypt had imposed in light of the coronavirus crisis has spared Egypt further harm to economy.