Negotiations have commenced between the deputy governor of the Central Bank of Egypt, Mahmud Abu Al-Eyun, and the Egyptian Minister of Public Enterprise Mokhtar Khattab, regarding the settlement of state owned enterprise (SOE) debts, which currently stand at 25 billion Egyptian Pounds ($5.4 billion), reported Al-Ahram.
The Minister stated that SOE financial debts decreased from EP39 billion to EP25 billion over the past five years. He added that the debts were within safe limits, since the enterprises have estimated assets of EP30 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
