Global Arab Network | Egypt Urges UK’s Support to Cancel Debts to EU

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Egypt Urges UK’s Support to Cancel Debts to EU

Global Arab Network - - George Haddad

Thursday, 24 February 2011 00:06

Egypt’s Minister of Finance Samir Radwan called on British Trade and Investment Minister Lord Stephen Green to back Egypt's call for writing off its debts to the EU or at least exempt it from paying the interest rate.

Radwan stressed that the government is proceeding with economic reforms which it started in 2004 and contributed to raising economic growth rate to more than 7 percent before the international economic crisis.

The government policy in the current period focuses on facing up to the repercussions of the economic crisis, especially offering compensations to the facilities which were damaged during the revolution as well as people who lost heir jobs, he said.

It also seeks to restore economic growth rate and creating jobs, Radwan added.

During the meeting with Green and his accompanying delegation which comprised 15 heavyweight businessmen, Radwan called on the British business community to boost its investments in Egypt.

Britain is the largest trade and investment partner to Egypt, Green said, noting that Britain did not warn its nationals from visiting Egypt in view of the recent incidents.

Green said he is confident that Egypt will swiftly restore political and economic stability.
(SIS)

Global Arab Network

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