CAIRO, March 10 — Egypt expects a primary surplus of no less than 3.5 per cent in the fiscal year beginning on July 1, finance minister Mohamed Maait told a news conference today.

Egypt was aiming to keep its debt ratio at under 90 per cent of gross domestic product, Maait said.

He was speaking four days after Egypt devalued its currency to around 50 Egyptian pounds (RM4.8) to the dollar from 30.85 pounds, raised its key overnight interest rates by 600 basis points and announced an expanded, US$8 billion (RM37.5 billion) financial support agreement with the International Monetary Fund. — Reuters