PM: Egypt’s domestic debt within safe levels
Egyptian Prime Minister Atef Ebeid announced that domestic debt is within safe levels, equivalent to 54 percent of Egypt’s GDP, and poses no serious risk to the local economy. The government has recently agreed to pay financial arrears to Al-Azhar and the electricity sector for the fiscal year2001.
According to Planning and International Cooperation Minister Ahmed Al-Darsh, dues totaling 113.8 million Egyptian pounds (EL) will be paid to Al-Azhar and LE471.7 million to the electricity sector for the period from January to June 2001. — (Lebanon Invest)