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FINANCIAL NEWS
Egypt to repay USD1.5 b to oil firms
05 Dec 2013
(MENAFN) Egypt has announced its plan of repaying USD1.5 billion of the USD6 billion to oil firms, hoping its economy to recover, according to Saudi Gazette.
“There is approval to pay $1.5 billion,” Prime Minister Hazem El-Beblawi told the gathering designed to convince Gulf Arab states invest in the country.
The country’s central bank will be responsible for repaying the money to owed oil firms, said Finance Minister Ahmed Galal.
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