Egypt’s parliament on Tuesday approved a cabinet reshuffle proposed by President Abdel Fattah el-Sisi, targeting mainly key economic portfolios as the country grapples with prolonged financial strain and regional instability.
An economy-focused government © ENN
Egypt’s parliament on Tuesday approved a cabinet reshuffle proposed by President Abdel Fattah el-Sisi, targeting mainly key economic portfolios as the country grapples with prolonged financial strain and regional instability.
Egypt’s economy has been under pressure for years, weighed down by austerity measures introduced under a 2016 International Monetary Fund program, the COVID-19 pandemic and the fallout from the war in Ukraine.
More recently, the war in Gaza and Houthi attacks in the Red Sea have sharply reduced revenues from the Suez Canal, a vital source of foreign currency. Repeated currency devaluations and rising fuel and transport costs have further strained living standards.
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The new Egyptian government
By Nadim Gorba
Chinese President Xi Jinping called on Middle Eastern nations to oppose external interference and consider reshaping the region's security order during a visit to Egypt on Wednesday, as Beijing seeks to expand its influence amid the U.S. war against Iran.
A bus crash in Egypt's Sinai Peninsula killed 22 people and injured 28 on Wednesday, according to an updated toll from the health ministry, in a country plagued by aging infrastructure and frequent road deaths.
Chinese President Xi Jinping arrives in Egypt Tuesday evening on his first visit in a decade, as the war in the Middle East and US sanctions increasingly threaten Beijing's economic interests.
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