- The Media Line - https://themedialine.org -

Egypt Set to Receive Additional $4 Billion from Saudi Arabia to Shore-up Econom


In a gesture aimed at shoring up the Egyptian economy, Saudi Arabia is offering Cairo a new aid package worth about $4 billion. According to the state-run Al Ahram newspaper, the deal, the details of which will be worked out when Egypt’s interim prime minister visits Saudi Arabia next week, will include deposits in the Central Bank and petroleum products. Since the ouster of the Muslim Brotherhood’s Mohamed Morsi from the presidency, Egypt’s economy has begun to rebound in part, because of help from Saudi Arabia and billions of dollars from the other Gulf States.