U.A.E. Urges Egypt ‘Fiscal Consolidation’ to Help Economy - Bloomberg:
"The United Arab Emirates, which is backing Egypt with billions of dollars in aid, said its ally needs to shore up public finances and invest in infrastructure to revive an economy battered by unrest.
Sultan Al Jaber, the U.A.E. minister of state overseeing assistance to Egypt, also urged institutions such as the International Monetary Fund and the World Bank to show flexibility in dealing with the new leadership in Cairo. Saudi Arabia, supported by the U.A.E., has called for a donor conference to help revive an Egyptian economy stuck in the worst slowdown in two decades.
Al Jaber’s remarks come as Egyptian President-elect Abdel-Fattah El-Sisi prepares to take office next week, inheriting an economy suffering from record unemployment and one of the highest budget deficits in the region. El-Sisi, the former military chief who led the ouster of Islamist President Mohamed Mursi in July, has pledged to restore order and revive economic growth."
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