gulfnews : Egypt's fiscal crisis puts pressure on army

Egypt's fiscal crisis is adding to pressure from protesters and politicians for the ruling military council to hand over substantial powers to a civilian government long before mid-2012, when the army has said it would return to barracks.

Rising debts, now worth 85 per cent of gross domestic product, a surging budget deficit and foreign reserves tumbling to a level that by January may provide just two months import cover provide all the ingredients for a text book fiscal crisis.

* username: rupertbu