Egyptian economy's robust, isn't in need of WB, IMF's aids

Egypt's Prime minister Atef Ebeid said the Egyptian economy is robust and doesn't need assistance from World Bank and International Monetary-Fund (IMF).

"Egypt's foreign debt hit $26 billion," Ebeid said, noting that the debt installments reach $ 800 million a year.

Ebeid underlined Friday that the government's policy statement to the People's Assembly on Monday will not include any pledges that cannot be fulfilled or projects that cannot be implemented.

"The statement will provide a comprehensive briefing of the government's accomplishments during the past year and its future programme of action," he added.

Speaking to reporters, Ebeid said the Cabinet will discuss during its Tuesday meeting three major issues related to promoting investments, upgrading services as well as combating unemployment.

He put at 450,000 the number of job opportunities provided for by the government in 2000, of which 150,000 were provided via the governmental sector.

The government's statement would center on the policies within the current parliamentary session and the procedures designed to improve the citizens' standard of living especially the low-income brackets.

The statement will cover the government's legislation regarding a number of draft laws including the health insurance, local government, unified labour, Non-Governmental Organizations (NGOs) that will be studied by the People's Assembly.

"The statement also deals with constructing eight new highways within the current fiscal year," Ebeid said.