Egyptian economy in need of $14.5bn in 20 months

Finance Minister Momtaz el-Said said 14.5 billion dollars are necessary to thrust the Egyptian economy over the coming 20 months. "The budget deficit continues to widen while the country's financial resources only cover 60\% of expending which is rapidly increasing," Said explained. In this critical time, Egypt has to resolve to slashing expenditure and cutting subsidy especially in the fuel sector. Upping taxes is also considered with caution not to afflict low-income families, the minister said. On the IMF loan, Momtaz said the goal is not to get the loan but it is more related to get the international accreditation to encourage investors.