Morocco’s plan to reform its public sector pension fund will cost the state around 5 billion dirhams during an initial phase and workers will also pay in more, the finance minister said on Tuesday. The government will be forced to dip into the Moroccan Pension Fund’s (CMR) reserves beginning this year in order to pay benefits. [Reuters]

 

Although the resigned government got big financial and popular support, unlike previous governments, it failed to revive the economy, economic experts said on Tueday. According to economic expert Passant Fahmy, the Beblawi government should be held accountable for any possible charges of wasting public money. Similarly, Mustafa el-Nasharty claims that Gulf deposits were used to fund decrepit infrastructure. [Cairo Post]

 

The government is planning to ramp up its efforts in the coming months to increase public awareness of the “gravity” of the issue with the energy subsidies program “in its current form”, according to Minister of Planning Ashraf El-Araby. Authorities have already launched smart cards to try to manage bread subsidies. [DNE, Reuters]

 

The Tunisian ANC is preparing to review a draft bill introduced last April to assists jobless youth. The bill will create a fund to grant stipends for unemployed Tunisians. It will be subsidized by deducting a nominal amount (no more than 1 dinar) from the wages of public and private sector employees. [Magharebia]

 

 

 

Egypt’s new PM says to fight militancy, rebuild economy | Reuters

Minister Galal: EGP 2.38 billion to be allocated ‘to supply necessary goods’ to citizens | DNE

Egyptian minister: Suspended aid after June 30 less than $20 million a year | Cairo Post

Egypt received EGP 300 million loan from Japan for electricity | Egypt Independent

Poorest 20 percent of population reveive 10 percent of GDP: Egyptian dean | Cairo Post

Jobless protesters torch police post in Tunisia | AFP

Italy provides a credit line of €73 million for Tunisian SMEs | L’Economiste Maghrebin [French]

Deepening Arab region integration could raise development, UN reports | UNNC