Debt expenditures accounted for 42 percent of Egypt's total expenditures during the six months, amounting to LE 940.8 billion.
A report issued by Ministry of Finance revealed that wage expenses and compensation for workers increased during the six months to LE 160 billion.
The annual expenses of the metro before the increase amount to L.E. 8 billion, while its income is estimated at L.E. 4 billion only.
A wrap-up of the most prominent business news of the day
Interest expenses acquired 36.8 percent of total expenses with an amount of LE 110.5 billion during the first four months of this fiscal year.
The budget’s overall deficit dropped to 1.9 percent of GDP in the first quarter of fiscal year 2017/2018, compared to 2.5 percent last year.
Abdel Ghafar stated that he formed a fact-finding committee to listen to all parties and identify the causes for rising tuition fees.
Higher Education and Scientific Research Minister Khaled Abdel Ghaffar declared on Thursday that the government has no intention to increase university expenses during a press conference after the monthly meeting of the Supreme Council of Universities.
Pharos Holding maintained the fair value (FV) for Juhayna Food Industries at LE 8.88, with an Overweight recommendation.