Egypt gets $2 billion Saudi payment to fix crumbling finances


  • World
  • Monday, 22 Jul 2013

CAIRO (Reuters) - Egypt's central bank has received $2 billion (1 billion pounds) in Saudi funds, the latest instalment of a $12 billion Arab aid package to help the new government shore up a crumbling economy after the removal of Islamist Mohamed Mursi as president on July 3.

Egypt's finances, in havoc from political strife since the 2011 popular uprising, worsened in the first five months of 2013, with the budget deficit widening to almost half of all state spending.

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