Egypt says to use Gulf aid, savings for stimulus
CAIRO Dec 16 (Reuters) - The Egyptian government will finance an economic stimulus package of around 30 billion Egyptian pounds ($4.36 billion) using aid from Gulf Arab states and savings, Finance Minister Ahmed Galal said on Monday.
"We have the resources to do it," Galal said, referring to a second stimulus package to be launched in January. "It is partly from savings, partly from the Gulf money that we didn't spend yet," he said during a news conference.
The Egyptian government received aid pledges of $12 billion from Saudi Arabia, Kuwait and the United Arab Emirates after the army deposed President Mohamed Mursi in July following mass protests against his rule. ($1 = 6.8866 Egyptian pounds) (Reporting by Asma Alsharif and Shadia Nasralla; Writing by Tom Perry; Editing by Alison Williams)
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia blocks internet sites of Putin critics
- Tire blows out on passenger jet taking off from Philadelphia airport