Egypt public debt amounts to US$184 billion
Once again, it was decided to delay the resumption of trading in the Egyptian stock exchange for next week after it was scheduled to open on Wednesday.
Meanwhile, the government is making efforts to restore the economic sectors after the recent events in the country. The efforts now concentrate on releasing imports needed for the production of food without payment of customs duties and tax, in exchange for a written pledge to pay immediately after the situation is stabilized.
The newly appointed Finance Minister Samir Radwan, said in a statement yesterday, that this resolution "is valid until the end of this month".
One of the main outcomes produced by the revolt was the government's announcement to increase the monthly income by 15%. The minister said that the increase "would be applied from 1st of April,"
The Minister of Trade and Industry Egypt Samiha Fawzi said that all the arms of the ministry are "working to help Egypt's industrialists, traders and exporters to restore rates of growth of the national economy registered prior to January 25."
In a related development, it was announced yesterday that the public debt reached 1080 billion pounds (US$183.7 billion) in June 2010, equivalent to 89.5 percent of GDP. The figure includes domestic debt of 888 billion pounds, equivalent to 73.6 percent of GDP.
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