Parliament to review CBE report on financial aid sent to Egypt
Central Bank of Egypt (CBE)
Cairo - MENA
The House of Representatives' Economic Affairs Committee will review a report prepared by the Central Bank of Egypt (CBE) on the volume of financial aid dispatched to Egypt since 2011.
Of all 29 billion dollars, Saudi Arabia sent eight billion dollars, while the UAE and Kuwait dispatched six and five billion dollars respectively, Ali el Mosilhy, the head of the committee, said on Wednesday.
He said the current decline in foreign currency was caused by the budget deficit which hit 279.4 billion pounds in the 2014/2015 FY compared to 255.8 billion pounds in 2013/2014, in addition to the decline in tourism revenues.
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