Egypt received $13.8bn in grants after Morsi ouster

Egypt received $13.8bn in grants after Morsi ouster

Egypt received a total of $13.8 billion in grants from Arab countries during the 2013/14 fiscal year, compared with only $729 million the previous year, the country's Planning Ministry said Monday, Anadolu Agency reported.

In a report, the ministry added that Egypt's foreign debt had risen to $46.1 billion by the end of the same fiscal year, compared with $43.2 billion one year earlier.

Egypt's fiscal year starts at the beginning of July and ends at the end of June.

President Abdel-Fattah al-Sisi said earlier that Egypt had received $28 billion in financial assistance from "sister countries" during the ten months that followed last year's ouster of elected president Mohamed Morsi by the army.

The Finance Ministry, meanwhile, estimated financial assistance from Arab countries over the same period at some $16.7 billion, noting that the assistance had also included oil shipments.

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