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Egypt's president reshuffles cabinet

Egypt's president reshuffles cabinet

Egypt

Egypt’s president has reshuffled his cabinet in order to revive the country’s ailing economy.

President Abdel Fattah al-Sisi has named new ministers of tourism, finance, investment, justice, civil aviation, among others.

The 10 were sworn in on Wednesday as well as a deputy planning minister and three deputy finance ministers for treasury affairs, tax policy and fiscal policy.

The new cabinet consists of 34 ministers.

The reshuffle comes at a time when the North African country is struggling with a battered economy as a result of political instability and a fall in foreign exchange revenues.

Amr el-Garhy the new finance minister and Dalia Khorshid, investment minister, are expected to steer the country’s economy which grew by a mere 4.2 percent in the fiscal year 2014 / 2015.

Egypt has been hit by a dollar shortage since the popular uprising in 2011 drove away tourists and foreign investors both vital sources of hard currency.

The country’s tourism sector was further affected by the Russian plane crash in 2015, which led to Russia suspending its flights to the north African country as well as the UK.

Reuters

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