Egypt hopes a huge financial aid avert bankruptcy
18/4/2012 12: 00 am
Translation-morning
Experience the largest economy in North Africa undermined from within democratic revolution since last year, the country will soon face shortages in funds by the summer season will paralyze him for covering commodity support requirements, including support to wheat and oil.
Egypt finds itself in need of $ 12 billion dollars from an International Monetary Fund and the European Union to lift their economic status and avoid bankruptcy, but diplomatically significant EU warns that this deal will impose painful austerity measures on the sagging economy.
The officials from the International Monetary Fund, the European Union now negotiations behind the scenes with the Transitional Government, backed by the military and a team of party freedom and justice to reach an agreement on a loan package details.
These billions before will lead to stress the universal lending system, but most remain concerned about Brussels focused on people's reaction that can be caused by the drastic reduction in public spending, which will coincide with the first democratic Government took over the reins of Government over the past six decades.
The diplomat said: "the issue is so sensitive that we should avoid excessive rigidity. It is now in the critique of neoliberalism as something imposed from outside, so we take care in the European Union to avoid making drastic austerity measures. "
Follow an extensive system to push Egypt bear whereby the costs of basic necessities when requested. And with the rapid escalation in commodity prices in the world, in parallel with the chaos surrounding the Egyptian economy, Treasury of attrition to without much midfield during the month of February of last year when President Hosni Mubarak was overthrown.
Collapse of tourism, foreign investment and declining confidence in business to damage resulted in the contraction of the economy and tax revenues. The growth rate was registered at the rate of 6 percent that had signed political unrest that left the economy stagnant in the last year.
Use the demonstrators who overthrew the Government of Mubarak, which lasted for three decades, the slogan bread, freedom and social justice for mobilizing and uniting all castes and paid to participate in those protests. The Freedom Party won and justice, political interface of brotherhood, with the majority of parliamentary seats in elections this year but will not be able to form a Government officially until after the new President is elected, possibly next month. The party includes among its ranks to heal fully economic and is engaged in ongoing talks on the recovery package of austerity measures.
The military Government has notified the IMF officially that it will need 2 billion euros at least to support its budget in this year, but officials admit privately that the figure could reach twice this.
Meanwhile three of the two main contenders for the top post in Egypt's objections to further contest the race after the Electoral Commission dropped their eligibility with seven other candidates. And this has led to a disqualification in the race originally vociferous jerk for next President of Egypt, Gert, Al-shatir stratigei brotherhood and first choice, as did Omar Suleiman, who was intelligence chief in time of Mubarak, Hazim Abu Ismail Salafist candidate.
18/4/2012 12: 00 am
Translation-morning
Experience the largest economy in North Africa undermined from within democratic revolution since last year, the country will soon face shortages in funds by the summer season will paralyze him for covering commodity support requirements, including support to wheat and oil.
Egypt finds itself in need of $ 12 billion dollars from an International Monetary Fund and the European Union to lift their economic status and avoid bankruptcy, but diplomatically significant EU warns that this deal will impose painful austerity measures on the sagging economy.
The officials from the International Monetary Fund, the European Union now negotiations behind the scenes with the Transitional Government, backed by the military and a team of party freedom and justice to reach an agreement on a loan package details.
These billions before will lead to stress the universal lending system, but most remain concerned about Brussels focused on people's reaction that can be caused by the drastic reduction in public spending, which will coincide with the first democratic Government took over the reins of Government over the past six decades.
The diplomat said: "the issue is so sensitive that we should avoid excessive rigidity. It is now in the critique of neoliberalism as something imposed from outside, so we take care in the European Union to avoid making drastic austerity measures. "
Follow an extensive system to push Egypt bear whereby the costs of basic necessities when requested. And with the rapid escalation in commodity prices in the world, in parallel with the chaos surrounding the Egyptian economy, Treasury of attrition to without much midfield during the month of February of last year when President Hosni Mubarak was overthrown.
Collapse of tourism, foreign investment and declining confidence in business to damage resulted in the contraction of the economy and tax revenues. The growth rate was registered at the rate of 6 percent that had signed political unrest that left the economy stagnant in the last year.
Use the demonstrators who overthrew the Government of Mubarak, which lasted for three decades, the slogan bread, freedom and social justice for mobilizing and uniting all castes and paid to participate in those protests. The Freedom Party won and justice, political interface of brotherhood, with the majority of parliamentary seats in elections this year but will not be able to form a Government officially until after the new President is elected, possibly next month. The party includes among its ranks to heal fully economic and is engaged in ongoing talks on the recovery package of austerity measures.
The military Government has notified the IMF officially that it will need 2 billion euros at least to support its budget in this year, but officials admit privately that the figure could reach twice this.
Meanwhile three of the two main contenders for the top post in Egypt's objections to further contest the race after the Electoral Commission dropped their eligibility with seven other candidates. And this has led to a disqualification in the race originally vociferous jerk for next President of Egypt, Gert, Al-shatir stratigei brotherhood and first choice, as did Omar Suleiman, who was intelligence chief in time of Mubarak, Hazim Abu Ismail Salafist candidate.