Egypt’s new draft budget, which Mada Masr reviewed, dedicates over 65 percent of total government spending in the coming fiscal year to debt service.
High State borrowing was also the focal point of lawmakers’ critique of last year’s budget, as they reviewed and passed the government’s closing account statement earlier in the week.
The new draft budget, presented to the House of Representatives on Wednesday by Finance Minister Ahmed Kouchouk, projects total spending, or budget “uses,” at LE6.761 trillion (over US$132 billion at the time of writing), with 64.8 percent of that figure earmarked for debt service.
To read the full article: click here
Disclaimer: Except for articles published on Blog Tadamon and the content of the resource pages, all materials on this website, including their respective photographs, are indexed from their original sources. All rights remain with the respective copyright holders.
Comments are closed, but trackbacks and pingbacks are open.