Egypt not facing bankruptcy, Prime Minister states
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."
- Mission impossible? IMF says Jordan needs 7 percent growth to fight poverty and unemployment
- Saudi's strong non-oil growth in February may signal new economic era for KSA
- Worth a gasp? Abu Dhabi’s inflation already up 2.1% in 2014's first two months
- What's the attraction? IIF says UAE’s economic stability wooing foreign capital investment
- Public-private partnerships may be key to take Gulf's economic growth to next level
- Jordan cabinet reshuffle aims at boosting administrative development and reform
- Egypt and IMF set for talks tomorrow
- Egypt's long wranglings with IMF to be completed within two months, other lenders offer assistace
- Turkish economy minister to unveil new program '\'soon'\'
- Sensible or delusional? Egypt's external debt 'not a threat'- deputy PM