Saudi Arabia to Egypt’s rescue with $4bln aid

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Saudi Arabia To Egypt’s Rescue With $4bln Aid

Saudi Arabia has worked out a plan to give Egypt four billion dollars in additional aid in the form of central bank deposits and petroleum products.
The package will be worked out during a visit next week to the kingdom by Egypt’s Interim Prime Minister Hazem el-Beblawi.
It said Egypt would announce within days after the visit, the details of the second stimulus package for Saudi Arabia.
Reuters added that the Gulf Arab states have assisted Egypt with billions of dollars since the army toppled President Mohamed Mursi of the Muslim Brotherhood in July.
It said the funds have kept the economy afloat during political turmoil which hit investment and tourism hard.

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