Decline of global oil prices reduces financial deficit in Egypt
A oil paint
Cairo - MENA
The European Bank for Reconstruction and Development (EBRD) expected that the decline of global oil prices by 20 percent leads to an increase in financial deficit in Egypt by one percent.
The economic reform and the financial aid provided by a number of Gulf countries to Egypt contributed to stabilizing economic conditions in Egypt, the EBRD said in a report issued on Monday.
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