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بوابة الشروق
Source: بوابة الشروق
6 Hrsبوابة الشروق
Source: بوابة الشروق
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Businessman and economist Hassan Heikal said the government is moving toward adopting his proposal to swap some state assets for debts owed by government entities. This follows an announcement that it is studying the investment of part of those entities’ surplus funds in government debt, in order to reduce borrowing and its costs. Heikal estimated that the required swap would be worth at least 2–3 trillion pounds, in addition to reducing debt through the issuance of a sovereign bond. He said that every 1-percentage-point increase in interest rates adds at least 120 billion pounds to the government’s debt burden.
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