Ahmed Kojak, Egypt’s deputy finance minister, told Bloomberg website that Egypt in coordination with the International Monetary Fund, “will secure the additional financing needed for the government’s economic program.”
The IMF has recently agreed to a $12 billion loan to Egypt, which will be used to implement its economic reforms plans. Egypt will receive the loan on 3 years and re-pay it over 10 years.
Egypt’s consumption rate of petroleum products and natural gas has reached 87.7 million tons during the financial year plan of 2015/2016, official sources at the Egyptian Natural Gas Holding Company (EGAS.)
