Egypt’s Prime Minister Atef Obeid recently announced that Egypt’s overall debts currently stand at $61 billion, reported London based Al-Hayat.
Of this amount, Egypt’s foreign debts amount to $25 billion, while the value of internal debts are equivalent to 150 billion Egyptian pounds ($36.1 billion).
A study conducted earlier this month by the Center for Studies and Research of Developing Countries revealed that Egypt's overall debts have dropped by some 50 percent over past decade.
Furthermore, between the years 1999/2000 and 2000/2001, the budget deficit fell from 3.7 percent to 3.45 percent. –(Mena Report)
© 2001 Mena Report (www.menareport.com )