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Vol 54 No 20

Published 4th October 2013


Egypt

Gulf states to the rescue

Massive aid to the military-backed regime from Saudi Arabia and its allies could help dampen political tension after the ousting of President Mursi

The economy is still struggling on many fronts but some indicators look healthier, thanks largely to over US$8 billion of aid from Gulf Arab governments since the army deposed President Mohamed Mursi on 3 July. The government, appointed until fresh elections scheduled for early next year, wants to capitalise on this cash by stimulating the economy and attracting back nervous foreign investors and tourists.

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