Egypt: Urgent Measures to Cut Down Budget Deficit

Finance Minister, Momtaz el-Said, asserted that urgent measures will be carried out in the coming few days to cut down the budget deficit that hit 13 billion Egyptian pounds for this fiscal year.

The measures also include putting an end to the foreign reserve's depletion, he said adding that the reserves dropped from USD 34 billion down to USD 18 billion within less than one year.

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