The Egyptian Cabinet on Weednesday said that reports that Egypt will go bankrupt are groundless and bare of truth. Cabinet spokesman Alaa al-Hadidi said in press statements that Egyptians should rest reassured about the economic situation. Egypt, he asserted, is far away from this alarming situation. Egypt is committed to paying its financial dues including salaries of civil servants, he added. The Egyptian economy, he explained, is safe and sound although it faces some challenges and problems.