Egyptian government pays $916million to contractors in compensation

Payments cover losses accrued as a result of recent economic reforms.

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Egypt, Minister of Housing, Economic reforms

The Egyptian government has paid $916million to contractors as compensation for losses accrued as a result of recent economic reforms.

The country's Minister of Housing, Assem El-Gazzar, said that the amount represents 83.58% of the total value of compensations. 

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Payments cover the period 2 May 2018 to 29 December 2019, according to a report in Daily News Egypt.

El-Gazzar revealed that 19 ministries have paid out for monies owed, including the Ministries of Housing, Justice, Transport, Interior, Culture, Irrigation, Finance, Health, Education, Supply and Petroleum, among others.

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