Finance Ministry denies media reports on dollar price in 2018/19 national budget

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Thu, 28 Mar 2019 - 01:52 GMT

FILE - Minister of Finance Mohamed Ma'it

FILE - Minister of Finance Mohamed Ma'it

CAIRO - 28 March 2019: The Finance Ministry denied on Thursday media reports about the average price of the exchange rate of the US dollar included in its initial estimates of Egypt's 2018-19 budget.

In a statement, the ministry said it used the average price of the exchange rate set by the Central Bank of Egypt from March 1 to 15 when it drafted the 2018-19 budget.

It added that the draft national budget was submitted to the Cabinet which approved it on Wednesday.

It will be sent to the parliament for approval later this month, it pointed out.

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