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Article content CAIRO — Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that runs to June 2022, according to a copy of the draft budget seen by Reuters. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, the draft budget said. We apologize, but this video has failed to load. Try refreshing your browser, or Egypt projects 7.1% increase in debt financing needs in 2021/22 Back to video The cabinet approved the draft, which targets a bud...

By Reuters Staff 2 Min Read FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh/File Photo CAIRO (Reuters) -Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, said the draft seen by Reuters. Finance Minister Mohamed Maait told p...

4/25/2021 (Adds analyst quote) CAIRO, April 25 (Reuters) - Egypt expects its debt financing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that runs to June 2022, according to a copy of the draft budget seen by Reuters. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, the draft budget said. The cabinet approved the draft, which targets a budget deficit of 6.6%, on March 24, but the document still needs to be approved in parliament. "If they are able to achieve that i...

4/25/2021 (Adds finance minister's comments to parliament) CAIRO, April 25 (Reuters) - Egypt expects its borrowing needs to rise by 7.1% to 1.068 trillion Egyptian pounds ($68.1 billion) in the financial year that will begin in July, according to a copy of the draft budget. The government projected raising 66 billion pounds of this by selling international bonds, down from 72 billion pounds this year, said the draft seen by Reuters. Finance Minister Mohamed Maait told parliament on Sunday that 2021/22 expenditure would be 2.46 trillion pounds. The budget was based on economic growth forecast ...

By Reuters Staff 2 Min Read FILE PHOTO: Central Bank of Egypt's headquarters is seen amid the coronavirus disease (COVID-19) pandemic in downtown Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany CAIRO (Reuters) - Egypt’s current account deficit widened to $4.8 billion in October-December from $3.2 billion in the same period in 2019, according to central bank figures released on Monday. Remittances from Egyptian workers abroad rose to $7.49 billion in October-December from $6.96 billion a year earlier, while tourism revenues plunged to $987 million from $3.1 billion, Reuters calc...