Cairo – Mubasher: Egypt government seeks to divest partially from number of state-owned enterprises and banks, said Minister of International Cooperation Sahar Nasr, according to Wall Street Journal.
The government also targets floating stakes in public utility companies, which have historically been excluded from divesture as a strategic sector, noted Nasr.
The government realizes that the country’s future is correlated with supporting the citizens and entrepreneurs economic prospects, without state – aggressive intervention, added Nasr.
The minister pointed out that, Egypt has run earlier number of economic reform measures like; floating the Egyptian pound against the foreign currencies, cutting subsidies on oil products and amending tax laws.
Last October, the Central Bank of Egypt said the country’s total domestic debt has increased to nearly EGP 2.619 trillion by the end of the fiscal year 2015/2016.
