Gulf Aid Had Positive Effect Reducing Egypt’s Budget Deficit to 11%

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Hany Qadry, Finance Minister, stated the situation in Egypt must be managed as an opportunity to move forward through adopting necessary reforms to cope with political reforms, and to fix the national economy and solve the structural problems.

He expected the Gulf aid received by Egypt to help decrease the fiscal deficit to 11%~11.5% from the GDP, However, if the aids are not put into consideration the deficit will be 14.8% to 15%.

Qadry added that the government understands the difficulty of the situation and its challenges and holds solutions required to meet face them.