Egypt’s government has spent 40 percent of the amount allocated for the implementation of its economic stimulus plan, according to Minister of Planning and International Cooperation Ashraf El-Araby. On 10 February, the government announced that it had expended 30 percent of the stimulus package’s first tranche. [DNE]

 

The Ministry of Finance disbursed EGP 17 million of the allocated EGP 10 billion to apply minimum wage until the end of current fiscal year on June 30. The various authorities’ failure to implement the decision to apply minimum wage is atrtibuted to the difficulty in completing the calculations required, as not enough studies took place before the decision was made. [Cairo Post]

 

In their diagnosis of the Tunisian economy, experts from the World Bank identified several structural failures that prevent the Tunisian economic model from realizing its full potential. Speaking before the Finance Committee of the ANC, they shared these barriers to MPs, while offering reforms that would, according to them, make Tunisia a “tiger of the Mediterranean.” [TAP, LM (French)]

 

Tunisia’s new economy and finance minister Hakim Ben Hammouda has written a “letter of intent” to the IMF on February 28, in which he laid out three possible options for addressing debt by 3 state-owned banks.  Ben Hammouda proposed selling stakes in the three establishments to strategic partners; merging the ailing trio; or having the state recapitalize them. He largely favors the third option, believing the money for the bailout could come from an issue of treasury bonds. [African Intelligence, sub.-required]

 

 

 

Egypt lifts ban on brokerage firms trading foreign stocks | Reuters

Jordan, Iraq and Egypt sign oil, gas agreement | ANSAMed

Egypt’s trade minister: Plan for attracting investments | SIS

Blog: Despite upheaval, Egyptian economy continues to grow | The Hill

Jordan: King renews support for entrepreneurs | Jordan Times

IDB, KIA units to invest in Morocco’s private sector | Reuters

Tunisia lifts state of emergency, which affected tourism | Reuters

Tunisia’s entrepreneurs call for pro-business reforms | BBC

Tunisia targets terror financiers | Magharebia