Saturday 6 July 2013

Egypt faces huge funding shortfall - The National

"As the cheers on the street fade from the removal of president Mohammed Morsi, Egypt's interim government will face the sobering task of securing almost US$20 billion in funds to help avoid a fiscal meltdown.

The newly appointed leader Adly Al Mansour will have to prioritise rebalancing public finances, alongside other pressing duties of forming a transitional government and setting a timetable for elections, say economists.

Little anxiety about the severity of such challenges was reflected in buoyant Egyptian markets yesterday on a day Mr Mansour, the top judge of Egypt's Constitutional Court, was sworn into power."

'via Blog this'

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