Egypt announced a plan for the issuance of treasury bills and bonds worth 181.5 billion Egyptian pounds, but experts say the government should slash outlays and increase public revenues through a raft of measures to ease the country's budgetary woes.
The Dar al-Ifta in Egypt has created a graphics unit in an attempt to battle religious extremism through animated videos, but the jury is still out on whether the direction taken so far in two productions will persuade the target audience.
As Egypt's cultural season starts in September, many Egyptian festival organizers worry that they will be unable to go on after recent additional bureaucratic measures and cuts in state aid. In the past, some concerts and cultural events in Egypt have been subject to suspension or crackdown due to their content.
On Wednesday 18th of July, Egypt and the United Nations signed a Declaration of Intent which gives Egypt support to rebuild Sinai. The UNDP representative present at the signing stressed the organisations support in developing Sinai.
The Egyptian parliament approved a 200 billion Egyptian pounds ($11 billion) sovereign wealth fund to be established which will contribute to sustaining economic development. The Egypt fund was given 5 billion Egyptian pounds to start up, and a 1 billion pound immediate transfer.
The Egyptian Ministry of Finance announced on Thursday that for the first time in 15 years, Egypt has a surplus in its budget. It is to be noted that primary budget figures do not factor in interest payments on government debt.
Ahead of FIFA World Cup, a team of Egyptian street children play in their own tournament in Russia and demonstrate their potential in the sport. The football tournament held in Russia targets street-connected and homeless children from 20 countries.