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In its meeting, the overnight deposit rate, overnight lending rate, and the rate of the main operation was raised by 200 bps to 18.25 percent, 19.25.

The additional money was allocated for wages, subsidies and grants, and for social benefit spending.

On the global front, forecasts for international commodity prices have eased compared to those underlying the previous MPC meeting.

According to official statements, the proceeds of the CDs reached $750 billion in just 70 days and came to maturity in March.

Revenues grew to EGP 21.849 million last year from EGP 14.154 million a year earlier.

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