Egypt has spent EGP 40 billion out of EGP100 billion to confront coronavirus; says FinMin

Egyptian government has spent 40 billion Egyptian pounds out of 100 billion pounds allocated to curb the spread of coronavirus according to Finance Minister, Mohamed Maait.

He added that the government has reduced its GDP growth target by 1.8 percent or 175 billion Egyptian pounds to 4.2 percent from a previous target of 6 percent due to the economic repercussions of the coronavirus (COVID-19) outbreak.