Monday, February 10, 2014

Egypt unveils $4.9 billion stimulus package to aid struggling economy

Egypt's interim government unveiled its second stimulus package on Monday, which will inject 33.9 billion Egyptian pounds into the economy, with most of that money coming from aid pledged by the United Arab Emirates. Initially, the finance ministry said Egypt planned to spend around 30 billion Egyptian pounds and launched the first stimulus package in August.

Ahmed Galal, the finance minister, said in a statement on Monday that the new spending would be financed mostly by the United Arab

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