The economic dilemmas of the Egyptian government: Foreign investments, Public Funds embezzlement, land grabs and basic needs

  • Egypt’s government expects around $3bn in revenues after settling tax disputes (http://english.ahram.org.eg/News/89613.aspx)
  • “Shafiq and 10 other defendants, including Gamal and Alaa Mubarak, were accused of embezzling public funds. ” (Alaa and Gamal Mubarak acquitted: http://madamasr.com/content/alaa-and-gamal-mubarak-acquitted)
  • Prosecution to review Ahmed Shafiq’s land corruption case (http://english.ahram.org.eg/News/89537.aspx)
  • “Abdullah Bin Mahfouz, president of the Saudi-Egyptian Business Council, said that a senior Saudi delegation proposed a law to the Egyptian government that would eliminate red tape and boost investment.The proposed law would allow investors to transfer their profits abroad, and would allow international arbitration in investment cases.” (Saudi Proposal to protect foreign investments: http://www.egyptindependent.com//news/saudi-proposal-protect-foreign-investments)
  • “The minister said in a statement to Reuters: “I can say that the stock is sufficient until 7 April. We aim to keep reserves that cover demand for a period of no less than six months.” The General Authority for Supply Commodities said, on Tuesday, that Egypt bought 120 thousand tons of Romanian and Russian wheat that would be shipped between 21 to 31 January 2014. Egypt buys around 10 million tonnes of wheat a year from abroad through the state and private buyers. The state produces subsidised saucer-sized flat loaves of bread sold for less than 1 US cent to millions of Egyptians. The program costs 21 billion Egyptian pounds (US$3 billion) a year.” (Minister: Egypt’s stock of wheat covers 7 months: http://www.egyptindependent.com//news/minister-egypt-s-stock-wheat-covers-7-months)
Advertisements

About angelajoya

Assistant Professor, Middle East Political Economy, at the University of Oregon. Currently writing on the Egyptian revolution and the Syrian crisis.
This entry was posted in Uncategorized and tagged , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s