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Tuesday, 18 August 2020

El Sisi ratifies EGP 80 bn overdraft for Egypt’s FY2019-2020 budget

President Abdel Fattah El Sisi has ratified a EGP 80 bn overdraft for the FY 2019-2020 state budget approved by the House last month. The overdraft, which will pay off the debt of state bodies, among other things, will not affect the state’s overall deficit, Finance Minister Mohamed Maait said in a statement.

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