Egypt’s economy in bottle neck, says deputy prime minister

Egypt’s economy is in a bottle neck, said Deputy Prime Minister Hazem al-Beblawy on Monday.

“It will be for a year or so, but it will be tough,” he said, pointing to a shortage in financial resources and a state budget deficit. “We must reduce spending,” he added.

Commenting on Arab banks willing to finance projects in Egypt, Beblawy said: “They talk too much. Let them come, and we’ll see.”

Translated from the Arabic Edition

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