Egypt Forges Ahead With Reviving The Economy As President Reshuffles Cabinet

Egypt’s president has reshuffled his cabinet in order to revive the country’s ailing economy. President Abdel Fattah al-Sisi has named new ministers of tourism, finance, investment, justice, civil aviation, among others. The reshuffle comes at a time when the North African country is struggling with a battered economy as a result of political instability and a fall in foreign exchange revenues.

Amr el-Garhy the new finance minister and Dalia Khorshid, investment minister, are expected to steer the country’s economy which grew by a mere 4.2 percent in the fiscal year 2014/2015. Egypt has been hit by a dollar shortage since the popular uprising in 2011 drove away tourists and foreign investors both vital sources of hard currency. Read more on this story here.