17 January 2014
THE UNITED Arab Emirates (UAE) will provide LE20 billion for the government's second stimulus package which aims at boosting the economy and is worth some LE30 billion, said Ziad Bahaaeddin, deputy prime minister and minister of international cooperation, last week.
The remaining LE10 billion would be provided by the state, he added. Bahaaeddin said that the government had provided more than the LE22 billion assigned for the first stimulus package, providing an additional LE11 billion by the end of 2013.
He said that the second stimulus package included building 50,000 residential units, establishing 25 wheat silos, the completion of sanitation projects, building 100 schools and the provision of 600 public buses.
The government revealed its first stimulus package last August, which involved pumping LE23 billion into investment projects over the coming year to revive Egypt's battered economy.
THE UNITED Arab Emirates (UAE) will provide LE20 billion for the government's second stimulus package which aims at boosting the economy and is worth some LE30 billion, said Ziad Bahaaeddin, deputy prime minister and minister of international cooperation, last week.
The remaining LE10 billion would be provided by the state, he added. Bahaaeddin said that the government had provided more than the LE22 billion assigned for the first stimulus package, providing an additional LE11 billion by the end of 2013.
He said that the second stimulus package included building 50,000 residential units, establishing 25 wheat silos, the completion of sanitation projects, building 100 schools and the provision of 600 public buses.
The government revealed its first stimulus package last August, which involved pumping LE23 billion into investment projects over the coming year to revive Egypt's battered economy.
© Al Ahram Weekly 2014
