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CNN Arabic
Source: CNN Arabic
5 HrsCNN Arabic
Source: CNN Arabic
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Egyptian businessman Naguib Sawiris criticized Nasserist thinking, saying that public-sector companies had either gone bankrupt or been looted. His remarks came amid debate over the privatization of Banque du Caire and the allocation of Red Sea land to reduce public debt, after politician Hamdeen Sabahi opposed selling the land and the bank. The government aims to reduce debt to around 69.5% of GDP by 2030. President Abdel Fattah el-Sisi issued a decree allocating approximately 26,690 feddans—equivalent to 112.12 million square meters—to the Ministry of Finance, for purposes including debt reduction and the issuance of sovereign sukuk.
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