• 04:11
  • Tuesday ,17 May 2011
العربية

Egypt's foreign reserves 'may run out'

By-EG

Home News

00:05

Tuesday ,17 May 2011

Egypt's foreign reserves 'may run out'
CAIRO - Egypt's foreign reserves will run out within six months if sectoral protests and sit-ins continue, a member of the country's Supreme Military Council told a forum in Cairo on Monday, according to the official Middle East News Agency (MENA). 
 
Egypt's debts account for 90 per cent of gross domestic product (GDP), major general Mahmoud Nasr, Defence Minister assistant for financial affairs, told a forum on the Egyptian economy after the January 25 revolution that toppled president Hosni Mubarak.
   Foreign direct investment has come to a standstill after the revolution, Nasr said, calling for getting the economy back on track.