Egypt’s Sisi Gives With One Hand, and Takes Away With the Other

Source: Chatham House
Author(s): David Butter

Original Link:

As the Egyptian parliament was nearing the conclusion of its review of the government’s draft budget for the 2017–18 (July–June) fiscal year, President Abdel-Fattah el-Sisi on 21 June announced a package of measures including extra funding for food subsidies, pensions and social safety net provision. The Ministry of Finance said that these measures would cost about £E75 billion ($4.2 billion) and push total budget spending up to £E1.2 trillion ($66 billion), but added that this sum would be covered by higher revenue arising from stronger economic growth and investment….

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