12 December 2012

Egypt: Planning Minister - Le 100 Billion Losses Due to Demonstrations, Sit-Ins

Minister of Planning and International Cooperation Ashraf al-Arabi said in an interview with al-Ahram newspaper on Wednesday 12/12/2012 that the country sustained losses of about LE 100 billion, some 1% of the GDP.

However, he said that the foreign reserve will exceed $ 19 billion by the end of this fiscal year, a $ 5 billion rise compared to that of 2011.

The Minister asserted that flaws in wages system will be redressed by early next year and that the government will firmly apply the minimum and maximum wage limits, bringing to account those who violate that law.

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