Egypt Sells Stakes in State Assets for $1.9 Billion Amid Privatization Reforms ...Egypt

From left to right: Egypt’s Minister of Planning and Economic Development Hala El-Said, Prime Minister Mostafa Madbouly, Minister of Finance Mohamed Maait.Image Credit: Egyptian Cabinet/Facebook Egypt’s government signed contracts worth a total of USD 1.9 billion (EGP 58.7 billion) to sell stakes in state assets, announced Prime Minister Mostafa Madbouly in a press conference. This is the government’s first major step in its plans to stimulate the private sector and generate much-needed hard currency. The move also aligns with the conditions set in its loan agreement with the International Monetary Fund (IMF) approved in December 2022. USD 1.65 billion (EGP 50.9 billion) of the contracts wil

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Last updated : 12 July 2023 clock 04:17 PM

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Egypt Sells Stakes in State Assets for $1.9 Billion Amid Privatization Reforms ...Egypt

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