Follow the latest in economic news and developments about the Arab transition countries.
President Abdel Fattah al-Sisi is currently studying next year’s budget presented to him by Prime Minister Ibrahim Mehleb’s government prior to the latter’s resignation from the former Interim Government. The plan corresponded to his economic orientations, according to the Minister of Finance’s Adviser for Public Outreach Mosbah Qotb, who could not confirm amendments to the budget. [DNE]
Egyptian Prime Minister Ibrahim Mehleb appointed veteran banker Ashraf Salman as investment minister on Monday in a limited cabinet reshuffle that also replaced the foreign and international cooperation ministers. [Reuters]
Interim Prime Minister Mehdi Jomaa asserted in an interview to TAP news agency that “the economic situation in Tunisia is difficult but ending the crisis is possible, if certain conditions are guaranteed, namely social peace and work resumption.” [TAP]
Difficult times lie in wait for the Yemeni riyal (YER) because oil exports, the main source of income for the government, are on the decline due to the ongoing sabotage of the country’s major oil pipeline in Marib. The current exchange rate is YER 215 to the dollar but the value of the riyal is expected to drop in light of the limited options the government has in covering its spending bill. [Yemen Times]
Also of Interest:
Al-Sisi’s new cabinet | Ahram
World Bank starts new country partnership to support Egypt | World Bank, Cairo Post
Foreign oil companies ask the Egyptian gov’t to pay more for gas supplies | El-Balad
Egypt: 75 percent of first stimulus package’s projects completed | DNE
Libya bans car traffic at night in Benghazi to stem violence | Reuters
Yemen’s economy: Unable to balance the books | The Economist
Yemen, UK review Yemen Friends’ tasks | SABA
Blog: Youth employment in Egypt and Tunisia vs. Jordan and Morocco | GAN