The Egyptian Ministry of Antiquities has been under financial strains and is running a “huge deficit” due to severe budget cuts in recent months Minister of Antiquities Mamdooh el-Damaty announced last October in a Kafr El-Sheikh conference.
The ministry lost 90 percent of its financial resources, which has in turn stalled renovation projects and the building of new museums, he added. Al-Damati also said that the ministry's budget fell from EGP 1.3 billion to EGP 125 million and that it relies entirely on self-financing through four projects for funding.Apart from this, the fight with looting and trafficking takes up a lot of the Ministry's resources.
'Amenhotep III statue found in Aswan village', Aswat Masriya Thursday, December 31, 2015
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