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Egypt to spend part of stimulus on infra projects

Egypt's interim government is planning to invest some EGP22bn ($3.19bn) in infrastructure projects, including housing and transport, as part of a stimulus package in the current fiscal year to revive the country's battered economy, Ahram has reported. The expenditure, which will be funded by foreign aid, including around $14bn pledged by Saudi Arabia, the UAE, and Kuwait, will focus on labour-intensive infrastructure projects aimed at improving housing, utilities, public transport, and getting the country's manufacturers back on their feet after over two and half years of turmoil.