Debts
Kouchouk highlighted three core priorities for the upcoming period - enhancing economic stability, supporting the private sector, and reducing government debt
The repayment schedule will follow a prearranged agreement between the government and its international partners
Debt expenditures accounted for 42 percent of Egypt's total expenditures during the six months, amounting to LE 940.8 billion.
This came during a press conference held on the sidelines of his current tour to inspect the development projects at a number of spinning and weaving factories in El Mahalla El Kobra in Gharbia.
It referred to the increase in tourism revenues by 121.1 percent, to rise to $10.7 billion, in addition to the significant increase recorded in the Suez Canal revenues, which amounted to about $7 billion in the same period.
Minister of Justice Omar Marwan has communicated with Governor of the CBE Tarek Amer on the issue, according to an official statement.
Sisi says Egypt spares no effort to support sustainable peace, development in Sudan
This comes as part of the government's efforts to resolve all financial disputes, el Saeed added.
Many Egyptian mothers ended up being in prison because of them being the sole breadwinner of the family.
Deputy Governor of the Central Bank of Egypt (CBE) Lobna Helal announced that deposits of Arab countries in the bank amount to $17 billion.
The first phase of the government’s IPO program includes additional stake sales of five State-Owned Enterprises (SOEs).
The minister added that debts to foreign companies are set to be fully paid by the end of 2019, hoping to pay them sooner.
The repayment is a part of a bi-annual installment owed to the group, usually paid in January and July.
The figure is well less than $6.3 billion recorded in 2013.
The company's liquidity stood at LE 5.02 billion, while net debts reached LE 18.9 billion.
A wrap-up for the most prominent business news of the day.
The government has agreed on the deferral of debts owed by the tourism sector in the governorates of South Sinai, Luxor and Aswan.
The company wants to repay between LE 700 million and LE 1 billion of its debt in 2018
The Ministry of Petroleum is in debt to foreign oil companies operating in Egypt. By June, the receivables to foreign partners had reached $2.3 billion.
Egypt plans to issue a third round of Eurobonds at a total value of $3-4 billion in the first quarter of 2018.
Most Read
