Follow the latest in economic news and developments about the Arab transition countries.
Egypt’s government is currently working on the launch of a new economic stimulus package to boost the sectors that are necessary to economic development such as the industrial, housing and construction, communication and tourism sectors, the Ministry of Finance’s July bulletin stated. The report noted that the second half of FY 2014/2015 is expected to witness a “development surge” as a result for implementing the projects of the two stimuli packages announced in 2013. [DNE]
The influx of Libyan refugees is putting pressure on Tunisia’s already strained subsidies system. Without conditional or means-tested system in place in the country to control the flow of subsidized commodities to different segments of the population, officials have said that following the recent uptick in refugee numbers from Libya, the resulting increased demand on fuel products in particular will put a growing strain on the public purse. [AAWSAT]
Egypt is looking to borrow at least $1.5 billion from local and international banks in order to repay debt owed to foreign oil companies operating in the country, Oil Minister Sherif Ismail told Reuters on Sunday. [Reuters]
A new AfDB report entitled “Food Subsidies and Direct Social Transfer: Toward a Better Targeting of Monetary Poverty and Deprivation in Tunisia, “draws on lessons from international experience, especially those in Iran, India and Morocco, to show there are better ways to ensure the needy are not left behind, ones which could save the Tunisian government millions of dinars per year while at the same time dramatically reducing poverty levels. [AfDB]
Also of Interest:
Tax evasion in Egypt reaches EGP 6 billion in one month | DNE
S&P banking industry country risk assessment on Egypt | Zawya DJ
Egypt ceases supplying gas to Jordan indefinitely | DNE
Tunisia dinar drop shows momentum for reform | Reuters
WFP works to offer Yemen long term solution not just temporary relief | Yemen Post
Analysis: Yemen’s oil subsidy reform exposes failure to address real problems | Global Post
North Africa may overtake economic growth in the Gulf | Saudi Gazette