The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that arrears of the international oil companies (IOCs), decreased to $200 million in comparison of $900 million of June 2019, Al Ahram Gate reported.

El Molla said that to Al Arabiya.net, on the sidelines of the International Economic Forum, stressing that arrears no longer represent any worries to the Egyptian government.

The arrears went down by 77% during the first six months of 2019, comparing to $1.2 billion during the same period of 2018 and $2.4 billion at the end of June 2017.