Finance minister says Egypt wary of debts

Egypt’s finance minister has told Al Jazeera that the country’s military rulers rejected loans from international institutions because they would disadvantage future incoming governments.

To make up for the shortfall, the government will cut spending on some social expenditures and public investment projects, but it will not touch food and fuel subsidies that help millions of impoverished Egyptians survive, Dr Samir Radwan said.

Radwan was speaking exclusive to Al Jazeera’s Ayman Mohyeldin in Cairo, the Egyptian capital.