Egypt to introduce new austerity measures as the war between Russia and Ukraine wrecks its economy Amid the Russia-Ukraine war, economists fear new austerity policies will exacerbate suffering of millions of Egyptians already hit by [ More … ]
Stratfor: Austerity will force Saudi Arabia to revise its military priorities Stratfor: Austerity will force Saudi Arabia to revise its military priorities [ More … ]
Saudi Arabia’s spending cuts come amid a plunge in oil prices, hurting the government’s finances. Saudi Arabia will triple its value added tax rate and suspend a cost-of-living allowance for state employees, the kingdom’s finance [ More … ]
Foreign direct investment (FDI) in Egypt’s non-oil economy fell in the second quarter to its lowest levels since just after an IMF-backed austerity plan began nearly two years ago, a sign more pain may lie [ More … ]
Egypt’s Abdel-Fattah Al-Sisi urged citizens on Saturday to further endure economic reforms and austerity measures, including a recent wave of steep price hikes on fuel, electricity and drinking water His televised address comes on the [ More … ]
A group of Egyptian lawmakers criticized recent fiscal reforms enacted by Abdel Fattah al-Sisi’s government, especially subsidy cuts to fuel and electricity. The 25-30 Alliance, a bloc of a small number of opposition MPs, demanded [ More … ]
Egypt is raising the price of electricity by an average of 26 percent as part of austerity measures designed to overhaul the country’s economy. Electricity Minister Mohamed Shaker said that electricity charges for factories would [ More … ]
Despite al-Sisi’s effort to vanish any political competitor from his way in the upcoming elections, it seems that things will get tougher for him in the coming weeks 2018 presidential elections In fact, 2018 presidential elections [ More … ]
Former Egyptian prime minister Ahmed Shafik, who last week announced plans to run for the presidency, was deported from the United Arab Emirates on Saturday, his family said, and arrived in Cairo hours later, as [ More … ]
Reliance on state-subsidized supplies rises after Cairo signs $12bn package with IMF, according to a Financial Times report, titled: “Egypt’s loan conditions leave poor on the bread line”. While Zeinab Ahmed and her friend are waiting [ More … ]
Hundreds of Egyptians took to the streets around the country blocking roads and surrounding government offices because they were unable to get their share of subsidized bread amid fears that the government was cutting food [ More … ]
Commenting on the vvisit of Football Legend Lionel Messi to Egypt, the Egyptian people said, “We are ‘too poor’ to bear the costs of such visit,” which the government claimed it was a move to promote [ More … ]
Despite its deteriorating economic conditions, Egypt ranked the second among developing nations for importing arms in 2015 – buying almost $12 billion worth of arms, according to a new US congressional report. On the same [ More … ]
Middle East Observer Obtains Exclusive Documents Revealing the Growing Wealth of Turki Al-Dakhil Following the death of the late King Abdullah of Saudi Arabia on 23 January 2015, his brother Salman, who took to the [ More … ]
In a televised speech during his youth conference in Sharm al-Sheikh, al-Sisi recalled one of his bedtime stories, saying that he has spent 10 years having nothing in his fridge but water. He then said [ More … ]
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