New Gulf aid package to raise credit rating

The new Gulf aid package, worth 12.5 billion pounds, to Egypt will improve the country's credit rating among the international institutions, said economic expert and analyst Mohamed Reda.
The Gulf aid will also contribute to improving Egyptian economy within the current period, he told MENA.
He also said that the real success of the conference lies in the number of the projects which will be implemented by the private sector.
"Egypt does not need aid but it needs investments which employ people, flourish economy and generate profits for all parties," he added.
Source: MENA