#egypt debt
On 20 June, Egypt’s Minister of Finance, Mohamed Maait, informed the country’s parliament that the country had lost EGP 440 billion (USD 23.4 billion) over the past two years due to the COVID-19 pandemic and the Russian-Ukrainian War. The statistic was a part of Maait’s speech to parliamentarians regarding Egypt’s proposed budget for the 2022/23 fiscal year. “Without these two crises, Egypt would have saved USD 7.5 billion,” Maait stated. Maait further emphasized that many sectors, particularly tourism and civil…
