Egypt gets $200 million support from Arab Monetary Fund

Reuters, Wednesday 16 Nov 2011

Latest sum will be used to support the country's budget, says Egyptian planning minister

Egypt will receive US$200 million to support its budget from the Arab Monetary Fund this month and a second tranche of financing worth $270 million in December, a minister said on Wednesday.

Planning and International Cooperation Minister Faiza Abu el-Naga told reporters the funds were to support the budget.

Egypt has received other budgetary support from Gulf states to help cover its deficit which expanded after the uprising in February that unseated President Hosni Mubarak.

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