Economics

Government Approves Interest Rate Hike for Three Years

The government approved on Friday on raising the tax on interest rates for banks and depositors from 7% to 10% for three years as part of the 2019 draft austerity budget. "It was somehow a long session, but it was very productive in terms of pending issues,, most of which were approved, namely raising the tax on interest for banks and individuals from 7% to 10% for a period of three years. " Information Minister Jamal Jarrah said following the Cabinet session at the Grand Serail.

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