EGYPT

 

Egypt: New UAE-Fueled Stimulus Package

 

Egypt is about to launch a second investment package of E£33.9bn ($4.9bn) to further stimulate the economy. This is to be mainly financed from grants in cash or kind offered by the UAE in the second half of 2013.

Minister of Finance Ahmad Jalal announced the stimulus package on 10 February, saying that a law has been drawn up to supplement the 2013-14 budget with this additional expenditure. This law is to be submitted to...