Egypt will receive three billion dollars loan from the World Bank in installments over the next three years to support the country’s budget, Finance Minister Hany Dimian said.

He made the statement on the sidelines of an economic conference on Wednesday in Cairo.
"The government is aware of the economic conditions which we're passing through. 
``There is a deficit in the budget and we have to handle it gradually," Prime Minister Sherif Ismail said in separate remarks at the conference.
Egypt's fiscal year 2015/2016 budget projects a deficit of 8.9 per cent of GDP and a five per cent growth rate.
The prime minister said the government is looking to decrease the budget deficit by 1.5 per cent per year while increasing the growth rate by 1.5 per cent annually.
Egypt grew by 4.1 per cent during the previous fiscal year.
Egypt will also receive 1.5 billion dollars in loans from the World Bank and African Development Bank (AfDB).
The country will also obtain 2.5 billion dollars in land sales to Egyptians abroad by 2015 windup, in order to boost foreign currency reserves, the prime minister said earlier this week.

Foreign currency reserves, which stood at about 36 billion dollars before the 2011 uprising that toppled autocrat Hosni Mubarak, were 16.335 billion dollars at the end of September.