// IP Marketing video - START// IP Marketing video - END

Saudi Arabia to provide $4bn in additional aid to Egypt: report

Saudi Arabia to provide $4bn in additional aid to Egypt: report

PanARMENIAN.Net - Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, Reuters reported citing state-run Egyptian newspaper Al Ahram.

Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the kingdom by Egypt's interim prime minister Hazem el-Beblawi.

Gulf Arab states have showered Egypt with billions of dollars since the army toppled President Mohammed Morsi of the Muslim Brotherhood in July.

The funds have kept the economy afloat during political turmoil which has hit investment and tourism hard.

Egypt will announce within days details of a second stimulus package since Morsi was ousted, its finance minister said on Tuesday, aiming to boost tepid growth rates and reassure investors.

The economy grew by just 1.04 percent in the three months through last September from a year earlier, according to central bank data.

Related links:
 Top stories
It further resolved that Agramunt is not authorised to undertake any official visits, attend any meetings or make any public statements on behalf of the Assembly.
The 324-member body is made up of delegates from national parliaments who meet four times a year in Strasbourg.
The administration’s March budget proposal vowed to slash aid to developing countries by over one-third, but contained few details.
Total world military expenditure rose to $1686 billion in 2016, an increase of 0.4% in real terms from 2015, according to figures from SIPRI.
Partner news