Egypt to receive up to $4bn in additional aid from Saudi Arabia: report

February 1, 2014 1:07 am

An Egyptian daily has said Saudi Arabia is expected to give Egypt up to $4bn in additional aid in the form of central bank deposits and petroleum products, Reuters has reported. Citing an unnamed ministerial source, state-run Al Ahram said the package would be worked out during a visit next week to the kingdom by Egypt’s interim prime minister, Hazem el-Beblawi. Egypt is set to announce within days details of a second stimulus package since Mursi was ousted, its finance minister said on Tuesday, aiming to boost tepid growth rates and reassure investors.