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Rock the vote: Egyptian economy hangs on election results

Rock the vote: Egyptian economy hangs on election results

Egypt needs to lure back foreign investors to alleviate pressure on domestic banks. Even with the promise of Gulf aid, the country’s fortunes hang on its upcoming elections.


November 3, 2011 2:12 by

…the North African country had not yet made any request, officials told Reuters on Oct. 26.

– Egypt foreign reserves dipped to $24 billion at the end of September from $25 billion at the end of August.

– Egypt’s parliamentary elections will run in several stages from Nov. 28 until March 11. The new parliament will be responsible for drafting a new constitution.

– A presidential poll is not expected to take place until late 2012 or early 2013.

– Egypt says local lenders not able to fund deficit

The author, Una Galani, is a Reuters Breakingviews columnist. The opinions expressed are her own.Editing by Pierre Briançon and David Evans)

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