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Homeausterity

austerity

Egypt Latest News

Egypt: Austerity measures looming amid the Russia-Ukraine war

April 1, 2022 MEO Staff

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 … ]

Saudi Arabia News

Stratfor: Austerity will force Saudi Arabia to revise its military priorities

June 9, 2020 MEO Staff

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 News

Saudi Arabia to triple VAT among other ‘painful’ austerity measures

May 11, 2020 MEO Staff

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 … ]

Egypt Latest News

Foreign Investment in Egypt Declines

October 7, 2018 Ahmed Rashed

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 Latest News

4 years on, Al-Sisi urges patience over his austerity measures

July 1, 2018 MEO Staff

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 … ]

Egypt Latest News

In Rare Public Criticism,Egyptian Lawmakers Slam Sisi’s Recent Price Hikes

June 19, 2018 Ahmed Rashed

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 Latest News

Electricity Prices Hike in Egypt As Al-Sisi Defends More Austerity Measures

June 14, 2018 Ahmed Rashed

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 … ]

Egypt Latest News

How Al-Sisi Will Produce a Credible Show of Public Support on Election Day?

February 16, 2018 Ahmed Rashed

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 … ]

Egypt Latest News

Former Egyptian Prime Minister Ahmed Shafik Deported From UAE To Cairo

December 3, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

The Poor in Egypt Endure Hardships of IMF Loan Conditions

May 9, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

Egypt: Public anger over rising living costs, protests against shortage of subsidized bread

March 8, 2017 Ahmed Rashed

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 … ]

Egypt Latest News

Will Messi’s Visit Rescue the Egyptian Economy?

February 23, 2017 Ahmed Rashed

 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 … ]

Egypt Latest News

A New US Report: Egypt was the Second Arms Importer in 2015

December 30, 2016 Ahmed Rashed

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 … ]

Saudi Arabia News

So much for Austerity! Middle East Observer Obtains Exclusive Documents Revealing the Growing Wealth of Turki Al-Dakhil

November 20, 2016 MEO Staff

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 … ]

Egypt Latest News

Al-Sisi_Fridge Cartoon

October 29, 2016 MEO Staff

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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