Egypt’s Govt. Securities Rose To EGP 18.5 Bln Since Morsi’s Inauguration
The Minister of Finance Momtaz El-Saeed stated that the volume of the government net borrowing (government securities) reached EGP 18.5 billion for the period from 1/7/2012 to 12/9/2012. About EGP 164.4 billion of government securities were issued and EGP 145.9 billion of government securities were depreciated during the same period.
El-Saeed denied what was published in the newspapers that the government borrowed EGP 136 billion in the first two months under the rule of the Egyptian president Mohamed Morsi through selling treasury bills and bonds.
El-Saeed also denied delaying the disbursement of employees’ salaries. The Ministry of Finance cannot delay the disbursement of the state employees’ salaries, he affirmed, calling on the media producers to be accurate in conveying news and to take news from their original source as there are many false news circulated currently in the Egyptian media which affected negatively on the economic situation.
The volume of the government net borrowing reached EGP 12.1 billion during the period from August 1st to September 12th as EGP 79.1 billion of government securities were issued and EGP 67 billion of government securities were depreciated in this period.
All the data about issuance of government bonds and treasury bills is available online in the Ministry of Finance website, El-Saeed noted.
