Study: Egyptian Debts Halved in Last 10 Years
Egypt's debts have dropped by 50 percent over the last ten years, according to a recent study issued by the Center for Studies and Research of Developing Countries at Cairo University.
According to the study, cited by the weekly Middle East Times, the overall volume of debts dropped from $91.3 billion in 1991/1992 to $25 billion in 2001.
Over one year, the budget deficit fell from 3.7 percent in 1999/2000 to 3.45 percent in 2000/2001.
The study also said that the services sector accounted for about 50 percent of Egypt's GDP, while industry and mining contributed 19 percent, agriculture 17 percent, and oil products and construction 11 percent – Albawaba.com
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