Tuesday 30 July 2013

Saudi Gazette - Egypt plans quick steps to kick-start economy

Saudi Gazette - Egypt plans quick steps to kick-start economy:

"Egypt's new cabinet plans quick steps to spur the economy while laying the ground for a broader "Marshall Plan" to present to Gulf countries and other donors, its chief economic strategist said.

With its options limited by a crushing financial crisis, Deputy Prime Minister for economic affairs Ziad Bahaa El-Din said the cabinet aimed to cut red tape and restart stalled investments to encourage a revival in business activity.

"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," Bahaa El-Din told Reuters."

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