Egypt not facing bankruptcy, Prime Minister states
Egypt's Prime Minister, Hisham Kandil, has said his country is not facing bankruptcy
Click here to add Alaa Al-Hadidi as an alert
Disable alert for Alaa Al-Hadidi,
Click here to add Hani Mahmoud as an alert
Disable alert for Hani Mahmoud,
Click here to add Hisham Kandil as an alert
Disable alert for Hisham Kandil,
Click here to add Mohamed Mahsoub as an alert
Disable alert for Mohamed Mahsoub
Egypt's Prime Minster, Hisham Kandil, said on Sunday in a press conference that the government will announce a national initiative for economic reform.
Kandil said that the economic situation is critical, yet bankruptcy is unlikely. He stressed that the economic reform plan aims at achieving the goals of the uprising.
The Prime Minister will announce features of the cabinet reshuffle in the press conference.
The reshuffles will involve the ministries of transportation, communications, electricity, legal affairs, finance, local development, agriculture, and supply.
Kandil is currently reviewing the resumes of a number of candidates nominated for ministerial posts, cabinet spokesman Alaa al-Hadidi said.
Minister of Legal Affairs Mohamed Mahsoub tendered his resignation on Thursday, saying that many of the current governmental policies contradict his personal convictions.
Minister of Communications Hani Mahmoud also resigned last Tuesday citing an inability to "adapt to work requirements in light of the current circumstances."
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?