Ashraf Al Araby Says: Economic States In Egypt Are “Worrisome”

The Egyptian Minister of Panning said the current economic state in Egypt is “worrisome”, so some immediate measures should be taken to revive the economic activity.

The statements of the Egyptian Minister, Dr Ashraf Al Araby, came at the time during which Egypt is holding talks with the International Monetary Fund (IMF) to get $ 4.8 billion loan.

After two years of turmoil, Egypt is suffering an economic crisis and enlarged budget deficit, more and above, decreasing the country’s cash reserve; consequently the country became not able to import wheat and fuel.

Last Wednesday, a mission form the IMF resumed negotiations with Egypt about the loan, which is considered as a positive and vital for Egypt and may leaded to releasing many aids to Egypt besides the foreign investments.

Al Araby described the talks with the IMF’s mission as “positive”, adding that Egypt may reach a deal within two weeks.