The international Red Cross on Monday more than doubled its aid appeal for Libya, warning that the humanitarian outlook for the conflict-hit country was dire.
The International Committee of the Red Cross (ICRC) sought 47 million francs (38 million euro, $53 million) more for the country, bringing the 2011 budget for the country to over 77 million francs.
"As long as the conflict in Libya continues, the outlook for the coming months is dire, and living conditions may further deteriorate for a large percentage of the population," said Boris Michel, ICRC head of operations for North and West Africa.
Michel added that among the ICRC's priorities are extending its activities to western and southern Libya.
"Some of these funds will be used to distribute essential household items, support health services and clear unexploded munitions from the streets of Misrata and other towns," he said.
The ICRC said it expects by the end of 2011 to have helped over 850,000 people affected by the Libyan conflict.
Monday, May 23, 2011
Egypt foresees $31B deficit in next fiscal year
Egypt's budget deficit could hit 185 billion pounds ($31 billion) in the next fiscal year, the country's finance minister said Thursday. His remarks came just hours before the U.S. was expected to announce new aid to bolster a key ally following the mass uprising that ousted President Hosni Mubarak.
The expanding deficit is the result of the government efforts to find cash to boost an economy battered by the protests and to increase spending to meet popular demands for jobs and services.
The government is eying a $38 billion development plan, according to Egyptian media, and will need to borrow heavily to cover the costs. The International Monetary Fund said earlier this month that Egypt indicated it will need between $10 billion to $12 billion through June 2012. Separately, the country is also near to securing a $2.2 billion loan from the World Bank, officials have said.
Finance Minister Samir Radwan said Thursday that health, housing, education and transportation spending would be increased by about $3.4 billion, describing the sectors as supporting human resource development in the country.
The deficit had been forecast at slightly under 8 percent of GDP for the 2011-2012 fiscal year, but now could be in a range of 9.9 percent to 11 percent of GDP.
"The deficit could end up being a bit more than 10 percent," said John Sfakianakis, chief economist with the Riyadh, Saudi Arabia-based Banque Saudi-Fransi. "I think anything above 10 percent is very plausible, and anything below 10 (percent) is probably difficult to reach now."
The government's efforts are focused on addressing many of the economic ills that helped fuel the Jan. 25 uprising that led to Mubarak's resignation after 30 years in power. Some of the problems ? including high unemployment and rising inflation ? have worsened since the uprising because continuing protests have undercut government efforts to restore normalcy.
The transitional government has had to deal with labor unrest over wages and working conditions, which has reduced manufacturing activity, while key revenue sources like tourism and foreign direct investment have taken a drubbing.
Sfakianakis said that the funds expected to be pledged by the U.S. are a positive step, but stressed that it was only part of the solution to the country's challenges.
The $1 billion debt forgiveness expected to be announced will lower Egypt's debt burden, but the more pressing and enduring need is to build confidence, he said.
"That takes a little bit of time, but Egypt is on the right track now compared to a few months back" he said.
While the money to be pledged by the U.S. will help, it is far short of what is needed to make a dent in the troubles confronting a roughly $217 billion economy.
Egypt needs "many billions of dollars of investments, both domestic and foreign sourced, to begin to address the issue of youth unemployment," said Sfakianakis.
Economists say the economy needs to grow at an annual rate of 6.5 percent to create sufficient jobs. Radwan, the finance minister, projects growth at 3.6 percent.
The expanding deficit is the result of the government efforts to find cash to boost an economy battered by the protests and to increase spending to meet popular demands for jobs and services.
The government is eying a $38 billion development plan, according to Egyptian media, and will need to borrow heavily to cover the costs. The International Monetary Fund said earlier this month that Egypt indicated it will need between $10 billion to $12 billion through June 2012. Separately, the country is also near to securing a $2.2 billion loan from the World Bank, officials have said.
Finance Minister Samir Radwan said Thursday that health, housing, education and transportation spending would be increased by about $3.4 billion, describing the sectors as supporting human resource development in the country.
The deficit had been forecast at slightly under 8 percent of GDP for the 2011-2012 fiscal year, but now could be in a range of 9.9 percent to 11 percent of GDP.
"The deficit could end up being a bit more than 10 percent," said John Sfakianakis, chief economist with the Riyadh, Saudi Arabia-based Banque Saudi-Fransi. "I think anything above 10 percent is very plausible, and anything below 10 (percent) is probably difficult to reach now."
The government's efforts are focused on addressing many of the economic ills that helped fuel the Jan. 25 uprising that led to Mubarak's resignation after 30 years in power. Some of the problems ? including high unemployment and rising inflation ? have worsened since the uprising because continuing protests have undercut government efforts to restore normalcy.
The transitional government has had to deal with labor unrest over wages and working conditions, which has reduced manufacturing activity, while key revenue sources like tourism and foreign direct investment have taken a drubbing.
Sfakianakis said that the funds expected to be pledged by the U.S. are a positive step, but stressed that it was only part of the solution to the country's challenges.
The $1 billion debt forgiveness expected to be announced will lower Egypt's debt burden, but the more pressing and enduring need is to build confidence, he said.
"That takes a little bit of time, but Egypt is on the right track now compared to a few months back" he said.
While the money to be pledged by the U.S. will help, it is far short of what is needed to make a dent in the troubles confronting a roughly $217 billion economy.
Egypt needs "many billions of dollars of investments, both domestic and foreign sourced, to begin to address the issue of youth unemployment," said Sfakianakis.
Economists say the economy needs to grow at an annual rate of 6.5 percent to create sufficient jobs. Radwan, the finance minister, projects growth at 3.6 percent.
Carnival to promote tourism to the Pyramids
Egyptian youth are organizing a carnival at the pyramids on the Giza plateau on May 30. The carnival is aimed to encourage tourism to Egypt.
Egyptians and tourists are expected to participate in teh carnival.
One of the organizers, Basma Ahmed, said the program includes a number of national songs and the national anthem in addition to a free tour of the famous site of the Pyramids. She said the carnival aims to contribute the tourism sector especially after huge losses it suffered in the past few months.
Egyptians and tourists are expected to participate in teh carnival.
One of the organizers, Basma Ahmed, said the program includes a number of national songs and the national anthem in addition to a free tour of the famous site of the Pyramids. She said the carnival aims to contribute the tourism sector especially after huge losses it suffered in the past few months.
Alexandria's initiative to support tourism
Alexandria's Institution for Cultural and Tourist Development offered an initiative to support and activate tourism. The proposal includes the distribution of a million pictures of Egypt's monuments and paintings, especially in Alexandria, to promote Egyptian tourism.
The institution launched the slogan ‘A million tourist cards’ for its initiative, in which artists and owners of rare photos will participate. The telecommunications, aviation and courier companies will execute the project.
The head of the initiative, Ahmed Esmat, clarified the idea was launched in May to prove security and stability in Egypt and to support tourism.
Esmat said professors of the Faculty of Fine Arts chose and collected a number of rare photos and paintings. He said the distribution process started in different embassies, foreign and Arab cultural centers and gift stores. Photos will also be distributed in Egyptian events abroad during cultural weeks and Egyptian artists' exhibitions.
The institution launched the slogan ‘A million tourist cards’ for its initiative, in which artists and owners of rare photos will participate. The telecommunications, aviation and courier companies will execute the project.
The head of the initiative, Ahmed Esmat, clarified the idea was launched in May to prove security and stability in Egypt and to support tourism.
Esmat said professors of the Faculty of Fine Arts chose and collected a number of rare photos and paintings. He said the distribution process started in different embassies, foreign and Arab cultural centers and gift stores. Photos will also be distributed in Egyptian events abroad during cultural weeks and Egyptian artists' exhibitions.
Damietta's governor discussing security measures in Ras al-Bar
Damietta's governor, Mohamed Fulayfel, its military ruler, Mohamed Ismail and a number of the governorate's leaders gathered in a meeting to discuss Ras al-Bar's security measures so that it can receive vacationers.
At the meeting, the governor spoke of the positive things that have been achieved this spring. He said he was happy with the excessive presence of security forces in different areas. He said he wants such security to continue during the summer.
The governor said motorcycles should be stopped from entering Ras al-Bar and that all entrances and bridges leading to the resort should be secured. Security should be doubled on Thursdays and Fridays as this is when Ras al-Bar receives a lot of visitors, said Fulayfel.
The chairman of Ras al-Bar city council, Adel Abu Samra, said there are campaigns to remove those occupying the road along the Nile and the markets. He added that the problem of illegal basements in the city was also discussed at the meeting.
The governor said campaigns are being carried out to remove such occupations and that a memorandum is also being prepared to inform security forces of where these basements are. The governor announced that he will hold another meeting that will include different sectors to discuss their roles and the necessary measures needed to be taken to improve tourism in Ras al-Bar.
At the meeting, the governor spoke of the positive things that have been achieved this spring. He said he was happy with the excessive presence of security forces in different areas. He said he wants such security to continue during the summer.
The governor said motorcycles should be stopped from entering Ras al-Bar and that all entrances and bridges leading to the resort should be secured. Security should be doubled on Thursdays and Fridays as this is when Ras al-Bar receives a lot of visitors, said Fulayfel.
The chairman of Ras al-Bar city council, Adel Abu Samra, said there are campaigns to remove those occupying the road along the Nile and the markets. He added that the problem of illegal basements in the city was also discussed at the meeting.
The governor said campaigns are being carried out to remove such occupations and that a memorandum is also being prepared to inform security forces of where these basements are. The governor announced that he will hold another meeting that will include different sectors to discuss their roles and the necessary measures needed to be taken to improve tourism in Ras al-Bar.
Atallah’s fashion show dedicated to Egypt
Fashion designer Walid Atallah dedicated his Bucharest fashion show to Egypt. His collection is inspired by Pharaonic styles and his models were dressed like Cleopatra and Nefertiti.
The show includes 30 evening dresses with charming colors and one wedding dress with a crown made of Swarovski Crystals.
Atallah’s designs are distinguishable because of the royal styles blended with contemporary styles.
Atallah will hold fashion shows in New York’s Fashion Week and in Muscat after the coming Islamic Fitr feast.
Atallah attended the inauguration of ‘Touch Group,’ which will be the only representative of his designs in Oman. He praised the cultured and broad-minded Omani women in this field who follow the latest styles from around the world.
The show includes 30 evening dresses with charming colors and one wedding dress with a crown made of Swarovski Crystals.
Atallah’s designs are distinguishable because of the royal styles blended with contemporary styles.
Atallah will hold fashion shows in New York’s Fashion Week and in Muscat after the coming Islamic Fitr feast.
Atallah attended the inauguration of ‘Touch Group,’ which will be the only representative of his designs in Oman. He praised the cultured and broad-minded Omani women in this field who follow the latest styles from around the world.
Music campaign to support Egypt's tourism
The companies Hollywood and Propaganda are cooperating to launch a music campaign to support tourism to Egypt. This campaign is the first in Egypt and the Middle East after the January 25 revolution. The companies agreed with European and Asian singers and stars willing to help activate tourism in Egypt.
The chairman of Holywood, Taha al-Hakim, said the campaign will include a number of songs performed in different languages by prominent European and Asian singers, to express respect and affection for Egypt. He added that these songs will be broadcasted in different TV and radio stations. He said the first step of this campaign was producing the song called ‘In the name of Egypt’ by the French singer Waida.
Al-Hakim said he will produce other national songs to express affection to
Egypt; the songs will be performed by different stars and in different languages.
Composer Mohamed Saad said the campaign will continue until it activates and improves tourism to Egypt. He added the campaign will include shuttle tours for foreign countries to invite their citizens to support and visit Egypt.
The chairman of Holywood, Taha al-Hakim, said the campaign will include a number of songs performed in different languages by prominent European and Asian singers, to express respect and affection for Egypt. He added that these songs will be broadcasted in different TV and radio stations. He said the first step of this campaign was producing the song called ‘In the name of Egypt’ by the French singer Waida.
Al-Hakim said he will produce other national songs to express affection to
Egypt; the songs will be performed by different stars and in different languages.
Composer Mohamed Saad said the campaign will continue until it activates and improves tourism to Egypt. He added the campaign will include shuttle tours for foreign countries to invite their citizens to support and visit Egypt.
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