NO. 7


Financial and Banking News

Budgets and Revenues

Egypt's Forex Earnings Decline

The value of Egypt's foreign exchange earnings, which increased from $9.7bnto $11.3bn in fiscal 1987/88, has declined to $6.1bn in 1988/89, according tofigures released by President Mubarak. In a speech last week he revealed thatthe value of Egyptian exports rose from $1.6bn in 1986/87 to $2.7bn in 1988/89,when total foreign exchange receipts stood at $6.1bn. The Prime Minister, Dr....