Egyptian Cabinet increases investment spending


Reuters reports that the Egyptian Cabinet has approved a $3.2 billion increase in spending on investment projects over the next ten months. The plan is to be presented to Arab countries who have pledged more than $12 billion in aid to the interim government. You can read the full story here.

Meanwhile the Egypt Independent reports that Minister of Finance, Ahmed Galal, has dismissed the idea of moving talks forward with the International Monetary Fund (IMF). Previously the government was seeking a loan of $4.8 billion. You can read that story here.

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