4 December 2012

Egypt: LE 276 Billion New Investments

Prime Minister Hisham Qandil unveiled on Monday 3/12/2012 a mechanism to eliminate corruption, a move that has earned Egypt in LE20 billion in 2012.

This came during the opening of the annual three-day conference for African Stock Exchange Association.

Qandil also said that the government has attracted investments worth about LE 276 billion so far including LE 100 billion in government share.

He also pointed out that the government has managed to resolve problems of about 46 companies and secured 100,000 job opportunities in the recent weeks.

On the three-phase agreement hammered out with the IMF two weeks ago, Qandil asserted that it will open the door wide for opportunities of financing to redress the budget deficit that has hit LE 168 billion.

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