EconSource: Al-Sisi unveils economic plan

Follow the latest in economic news and developments about the Arab transition countries. 

President-elect al-Sisi has promised to work on boosting the economy by developing industry and agriculture and attracting direct investments, he said in his inaugural speech from the Itihadiya Palace. During his speech, Sisi called on businessmen to contribute to revitalizing the economy in the coming period. He pledged the state will provide the “appropriate climate” for attracting investments. [DNE]
Egypt extended a 5 percent supplementary tax to include companies as well as wealthy individuals, drawing a mixed response from businesses on Monday as it seeks ways to boost flagging state revenues under a new president. [Reuters]
The authorities in Jordan are taking steps to reduce the current gap between the university classroom and workplace, while also opening the door to more foreign students. One sector the government is investing in developing is ICT, long identified as a key industry in transforming Jordan into a knowledge-based economy. [GAN]
According to a statement of the Directorate of Treasury and External Finance, the new bond release will contain short-term bonds for 26 and 52 weeks, medium term bonds for five year terms, and long term bonds for 15 year terms. The settlement date for the bonds will be June 16, 2014. [MWN]
Yemen suffered a total blackout today after gunmen in the eastern province of Marib sabotaged key power lines, the electricity and energy ministry announced. Today’s attack was the third of its kind this month. [Ahram]
Also of Interest:
Sisi discusses with CBE governor monetary reserves | SIS
Egypt’s annual urban inflation hits 8.3 percent in May: CAPMAS | Ahram
Survey: Egyptians expect 15 percent raise in salaries in 2014 | DNE
Entrepreneurship grows in Egypt | AAP
Jordan’s King: Ongoing, gradual reform is key pillar of democracy | JNA
OPEC struggles to cope with Libyan oil shortfall | WSJ, Reuters  
Tunisia: Strategy eyes increased presence in Africa | TAP 
ANC passed 3 bills involving financial protocols with France | L’Economiste Magharebin (French)