Al-Shater: We need EGP 30 bln for the National Projects

MB’s General Guide Deputy Khairat Al-shater said the state’s general budget needs EGP 30 billion in order to construct economic projects.

He mentioned that the budget deficit rate reached EGP 140billion of total EGP 560 billion. This makes the state unable to finance any projects at the present time.

Al-Shater elaborated that financing the budget deficit will be through EGP 80 billion from the local banks and EGP 60 billion from the foreign banks “Fund Loan”.

He suggested depending on long-term loans from banks and interior as well as exterior institutions in constructing projects that work on boosting economy during the coming period, moreover, depending on the private sector in these investments.