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It’s not just austerity vs stimulus for Egypt

By Farah Halime – Rebel Economy The government’s tactic to avoid major austerity measures and instead try to stimulate the economy by pumping in new funds may be popular among Egyptians, but risks delaying the country’s economic recovery. The new minister of finance, the sixth since Mubarak stepped down in early 2011, said: “one of the important …

Daily News Egypt

Revolving Doors: Egypt deputy finance minister quits

By Farah Halime, Rebel Economy Egypt’s deputy finance minister, Hany Kadry Dimian, has left his post after six years in the ministry, a source at the finance ministry told Rebel Economy, delivering a blow to the country’s chances of concluding a loan agreement with the International Monetary Fund. Mr Dimian, who has served as the deputy …

Daily News Egypt

After Arab Spring, Islamists test religion in economics

By Farah Halime With the rise of political Islam across North Africa in the wake of the Arab Spring uprisings of 2011, Islamic finance is being touted as the solution to decades of unemployment and economic inequality. “We’ve tried socialism, we’ve tried capitalism, now we’re trying Islam,” cried supporters of Mohamed Morsi, when he was …

Daily News Egypt

Rebel Economy wrap

EGYPT’S BUDGET DEFICIT: WHY NO ONE WANTS CUTS By Farah Halime, Rebel Economy While many people generally agree that governments faced with deficits must cut spending, most do not like cuts to specific programmes. It’s the same everywhere, not least in the US where a national survey found that for 18 of 19 programs tested, the majority wanted either …

Daily News Egypt

Rebel Economy Wrap

Port Said: Egypt’s Statue of Liberty By Farah Halime, Rebel Economy After yesterday’s deadly clashes with as many as 30 killed, it’s hard to imagine how the Port Said of today was once the object of a sculptor’s fascination. In the 1850s, French sculptor Frederic Auguste Bartholdi planned to build what is now known as the Statue of …

Daily News Egypt

Rebel Economy Wrap: The IMF dam

By: Farah Halime Billions of dollars of financing earmarked for Egypt is mounting up behind an International Monetary Fund (IMF) dam. Until Egypt agrees a final deal with the IMF for a $4.8 bn loan package, none of the estimated $14.5 bn in additional financial support and aid will be released. The effects of the …

Daily News Egypt

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