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Egypt Receives Second Tranche of $35 Billion Investment for Ras El-Hekma

Egypt Receives Second Tranche of $35 Billion Investment for Ras El-Hekma
egyptianstreets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from egyptianstreets.com Daily Mail and Mail on Sunday newspapers.

Egypt Records $8 7 Bn Preliminary Surplus in Nine Months

Egypt’s budget initial surplus has jumped over 8.5 folds during the first nine months of the current fiscal year (FY) 2023/2024 to EGP 416 billion ($8.7 billion), compared to EGP 50 billion in the same period of FY2022/2023, Minister of Finance Mohamed Maait announced on Monday. Maait said that general state expenditures increased to EGP 2.3 trillion, an annual growth rate of 50.8%, during the past nine months, resulting from the significant rise in interest rates and increased spending on support, social protection, and wages.

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