What’s Behind Egypt’s Sovereign Fund?

Source: Egyptian Institute for Studies

Author: Abdelhafez Alsawy

Original link: https://en.eipss-eg.org/whats-behind-egypts-sovereign-fund/

The Egyptian parliament has recently ratified legislation to establish a sovereign fund called the “Egypt Fund”. The fund comes after government promises since 2016. Dr. Ashraf Al-Arabi, Minister of Planning, was the first to announce Egypt’s intention to establish the soverign wealth fund. The general climate of any idea is important for its assessment; especially in the Egyptian case, as the military regime that came after the 4 July coup d’etat of 2013 blocked the political life in Egypt and brought a parliament (House of Representatives) away from fair election or real participation of the Egyptian people.

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