Egypt Allocates EGP 216 Million to Grand Museum as Economic Plans Take Focus

Egypt has allocated EGP 216 million to complete the Grand Egyptian Museum, among the developments highlighted on Wednesday alongside plans to revive the textile industry and resume British flights.

The investment minister outlined a strategy to restore the spinning and weaving industry’s leading position. The government also affirmed that the investment authority is the body responsible for establishing companies.

In monetary policy, the central bank changed its mechanism for offering dollars, prompting confusion in the foreign exchange market. The summary provided no details on the revised mechanism.

Other developments included a subdued election runoff and a plan of action to resume British flights. A report also highlighted that Egypt has only one medical team dedicated to nuclear safety.

Meanwhile, Mahlab said the state was confronting unregulated gold prospecting in the Eastern Desert.