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FINANCIAL NEWS
Egypt receives latest installment of USD12 b Saudi aid
22 Jul 2013
(MENAFN) Egypt has received USD2 billion installment of the Saudi rescue fund aiming at helping the country to reduce its widened budget deficit, reported Khaleej Times.
This is the latest installment of the USD12 billion fund which Saudi Arabia has granted to Egypt after the ouster of the Islamist president Mohammed Mursi on July 3.
It’s worth mentioning that the country’s foreign reserves hit its three-month low to reach USD14.9 billion in June.
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