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FINANCIAL NEWS
Egypt plans steps to push its already struggling economy
30 Jul 2013
(MENAFN) Egypt’s chief economic strategist said that his country is taking quick steps to push the economy while preparing a “Marshall Plan” to be presented to donor countries especially in the Gulf, Saudi Gazette reported.
“Ultimately, there isn’t another sustainable source of closing the deficit except to get the economy running, to get growth going, to get people to work, to get incomes paid, to get taxes paid as well,” said Ziad Bahaa El-Din, Deputy Prime Minister for economic affairs.
He said that Egypt should start encouraging business and get its investments going again in order to set the economy on the right track.
Egyptian economy suffered due to the political unrest that has been going in the country for two and a half years. Since January, Egypt’s deficit was at USD3.2 million a month.
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