X Close

World

Published: Thursday January 30, 2014 MYT 3:25:01 PM
Updated: Thursday January 30, 2014 MYT 3:26:01 PM

Saudi Arabia to give Egypt up to $4 billion more aid-report

A member of the security forces stands guard near a national flag outside a police academy, where the trial of ousted Egyptian President Mohamed Mursi and members of the Muslim Brotherhood is due to take place, on the outskirts of Cairo, January 28, 2014. REUTERS/Amr Abdallah Dalsh

A member of the security forces stands guard near a national flag outside a police academy, where the trial of ousted Egyptian President Mohamed Mursi and members of the Muslim Brotherhood is due to take place, on the outskirts of Cairo, January 28, 2014. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) - Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, state-run Egyptian newspaper Al Ahram reported on Thursday.

Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the kingdom by Egypt's interim prime minister Hazem el-Beblawi.

Gulf Arab states have showered Egypt with billions of dollars since the army toppled President Mohamed Mursi of the Muslim Brotherhood in July.

The funds have kept the economy afloat during political turmoil which has hit investment and tourism hard.

Egypt will 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.

The economy grew by just 1.04 percent in the three months through last September from a year earlier, according to central bank data.

(Writing by Michael Georgy; Editing by John Stonestreet)

advertisement

  1. Malaysian passport 9th best in the world
  2. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid
  3. KL set to be in 'security lockdown'
  4. 'Godfather' believed to have killed 13-year-old boy
  5. Every kind of success in life depends on our virtues as a person
  6. Brave boy comforts family
  7. At the ‘mercy’ of drivers
  8. College staff turn to loan sharks after salaries unpaid for four months
  9. Selangor MB Khalid: Can't stop water rationing yet, but will review next week
  10. Guan Eng: Heads will roll if Penang water rationing imposed

advertisement

advertisement