CAIRO
Egyptian President Muhammad Mursi said that his country would never go bankrupt.
President Mursi's comments came after news stories were published in the Egyptian media arguing that Egypt was about to go bankrupt.
Delivering a speech at the Shura Council of Egypt on the occasion of the beginning of the new term, President Mursi indicated that Egypt would never give up as long the productivity and consciousness of the Egyptian people continued.
"Egypt's economy will improve in the next period. The reserves of the Egyptian Central Bank went up 1.1 billion USD when compared to last July and reached 15 billion USD," Mursi stressed.
"In the third period of 2012, the Egyptian economy grew 2.6 percent. The Gross National Product of Egypt went up to 2.2 percent from 1.8 percent in the period 2010-2011," Mursi also stressed.
