Egypt seeks €4b in EU support for economic boost

Egypt has initiated discussions with the European Union and international partners for a second phase of financial support aimed at bolstering its economy.

Minister of Planning and Economic Development, Rania Al-Mashat announced on Monday that negotiations are underway to secure €4 billion in macro-financial assistance to address the national budget deficit. This support package also includes €1.8 billion in investment guarantees.

The announcement was made during a meeting with the National Press Authority, chaired by Abdel-Sadek Al-Shourbagy. The session, attended by Authority members and prominent journalists, provided a platform to discuss Egypt’s ongoing economic reforms and strategies for attracting international investment.

Attribution: Amwal Al Ghad English