EconSource: Egypt forecasts economic growth above 3 percent in 2014/15 fiscal year

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

Egypt’s economy is expected to grow by more than 3 percent during the 2014/15 fiscal year, Finance Minister Hany Kadry Dimian said today, in line with previous forecasts. The minister spoke the day after President Abdel Fattah al-Sisi approved a revised and tightened budget for the next fiscal year, which begins Tuesday, the first step toward a period of painful economic austerity. [ Reuters]
Armed Forces Commander-in-Chief and Defense Minister General Sedqi Sobhi agreed to place EGP 1 billion from the army’s National Service Projects Organization at the disposal of “Tahya Misr” (Long Live Egypt) fund to support the national economy. [SIS]
Jordanian King discuss regional developments with US delegation
Jordanian King Abdullah II held talks Sunday with a US Congressional delegation headed by Chairwoman of the US House of Representatives’ Subcommittee on the Middle East and North Africa Ileana Ros-Lehtinen. The talks focused on Jordanian-US ties and the latest developments in the Middle East, mainly the repercussions of the Syrian crisis on Jordan. [KUNA]
The recent four-nation tour of Sub-Saharan Africa which took Caretaker President Moncef Marzouki to Mali, Niger, Chad and Gabon reflected keenness to increase Tunisia’s political and economic presence in the continent, said Economic Adviser of the President of the Republic Anis Jaziri. [TAP]
Also of Interest:
Egypt’s economic program to increase domestic rate to 1 percent in 5 years | Cairo Post
Fitch affirms Egypt at ‘B-‘; outlook stable | Reuters
Egypt to raise electricity and petrol prices next month | Ahram
Egypt’s EGAS expects delay in gas import terminal | Ahram
Egypt sets conditions for gas imports from Israel | Egypt Independent, Ahram
Prince Talal bin Abdulaziz donates one million Saudi riyals to Egypt | Egypt Independent
Jordan manages high debt burden | Al-Monitor
Benghazi council gets LYD 200 million budget | Libya Monitor [Sub-based]
Libya leads the world in slowest internet connection speeds | 24/7 Wall St.
UN-led program to support youth economic empowerment in Yemen | Silatech
Economic crisis in Yemen raises panic during Ramadan | Press TV
Norwegian oil and gas operator issued force majeure notices in Yemen  | Global NewsWire
Yemen, donors discuss MAF in Washington | SABA
World Bank report on Africa shows mixed performance in Yemen | WB