Egypts finance minister said the government was committed to pushing ahead with painful economic reforms as it aimed to narrow its hefty fiscal deficit and reduce soaring debt levels.
Amr al-Garhy said the Arab worlds most populous nation cannot live with numbers like these as the government grapples with debt that hit 108 per cent of the gross domestic product last year and a fiscal deficit of 9.8 per cent of GDP.
If we leave it like this, the debt level will increase, the deficit level will increase and things will be much, much tougher, he told the Financial Times.
Parliament began debating the budget this week …
Read the full article at: https://www.ft.com/content/b94fa100-417f-11e8-93cf-67ac3a6482fd