Egypt to announce second stimulus package within days

February 3, 2014 8:19 am

Egyptian finance minister, Ahmed Galal has said the government will announce within days details of its second stimulus package since President Mohamed Mursi was ousted in July, aiming to boost tepid growth and reassure investors, Reuters has reported. The government introduced an EGP30bn ($4.3bn) stimulus package in 2013 and would follow up with a second package, also of around EGP30bn, this month, said Galal. “It is ready, we just have a part missing with the oil ministry, … and we’ll announce it within days,” Galal said.