New Egyptian Government Faces Daunting Economic Challenges
Despite aid of $12bn from Gulf countries, Egypt’s new interim government faces massive economic and political challenges. Cairo has meanwhile put IMF loan discussions on the back burner.
The key task facing Cairo is to repair Egypt’s failing finances and draw up a roadmap aimed at reducing the budget deficit, which had grown to E£203bn ($29bn) at the end of May 2013 (11...