Saturday 12 February 2011

Egypt May Need Stimulus to Create Jobs, Finance Minister Samir Radwan Says - Bloomberg

Egypt’s economy may need a stimulus package to help create jobs, Finance Minister Samir Radwan said today, after President Hosni Mubarak bowed to pressure from hundreds of thousands of protesters and stepped down.

“There is a need for a stimulus package that is very closely related to employment,” Radwan said in a telephone interview from Cairo. The government will run the daily affairs of the country until further instructions from the military council that Mubarak yesterday left in charge, he said.

More than two weeks of unprecedented protests against Mubarak’s three-decade rule left about 300 people dead, according to United Nations estimates. The turmoil hit exports, tourism and raised borrowing costs for the government.

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