4 February 2014

Egypt: Cabinet Urges Press Institutions to Present Accurate Info Concerning Economy

Cabinet urged press institutions especially the national ones to be more accurate in reports concerning the economy to avoid confusion and frustration at the current stage.

In a press release on Monday 3/2/2014, the Cabinet said that an article by head of a national press institution has claimed that Arab aid to Egypt have reached 15.9 billion dollars but the truth is that the aid stood only at 10.93 billion dollars.

The statement added that the article said the government used about 60 billion pounds from frozen deposits in the Central Bank to finance extra spending of the general budget but the truth is that these deposits were added to the Central Bank's cash reserve.

The statement said that Egypt's foreign debts have not exceeded 45.8 billion dollars since December 2013 as claimed in the article.

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