Egypt has sufficient foreign reserves to cover more than seven months of imports, its finance ministry said in a statement on Wednesday.
Egypt’s foreign reserves rose to $40.3 billion in March, up from $40.2 billion a month prior.
The finance ministry said it expected Egypt to achieve a primary surplus of 1% by the end of the current fiscal year and 1.5% in the 2021-2022 fiscal year which begins in July.
The ministry also said that electricity and gas prices for industry would be fixed for the next three years.
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