The Egyptian government will borrow 87 billion EGP (U.S. $14.6 billion) in order to fund their budget. The loan will be taken from family lending and deposits, investment certificates, savings books in the banking system, which equals 42 percent of total family savings according to today's report in Egyptian Ministry of Planning. Family savings are estimated at 208 billion EGP (U.S. $34.9 billion). 15 percent of the savings, 31 billion EGP (U.S. $5.2 billion), will be directed to direct fund investments of the family sector. 87 billion EGP (U.S. $14.6 billion) will be directed to cover the general budget deficit. The rest of the family sector savings will be directed to fund other investments by 43 percent. The current general budget deficit equals 30 percent of total local savings, which is estimated to be at 290 billion EGP (U.S. $48.7 billion). The total local savings include family, private, public and economic body savings. The current fiscal year investment plan will be funded by the savings of different organizational sectors, which means using current assets for the accounts of organizational sectors in order to fund fixed investments. About funding general companies, they will undergo law 203 and borrow from banks because they aim to perform investments with 5.3 billion EGP (U.S. $890 million). General companies will share funding these investments with bank loans. Industrial companies have 3.7 billion EGP (U.S. $621.6 million) of investments funds. These companies are working in different fields such as textile, food industries, chemical, pharmaceutical and medical supplies. The report also indicates developing general companies along with private companies investments, and activating foreign investments as well. Banks are considered the most important way to fund investments and economic activities.
