Egypt says to fund budget gap via local market, Arab help | Reuters

Egypt plans to fund its 134 billion Egyptian pound budget deficit through a combination of local market issuance and with aid from Arab states, Finance Minister Samir Radwan said on Monday.

"Egypt can go at least a year without World Bank or IMF (support) but only with the help of Arab countries," Radwan told reporters in the United Arab Emirates' capital.

"We plan to cover 120 billion pounds from the local market and 14 billion pounds of the deficit we are looking for from Arab countries."

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