Results for Tag: Economy

137 results found.
In Egypt, Major Gas Discoveries a Welcome Boost for Ailing Economy

The gas discoveries, notably Zohr, are changing the country’s economic prospects. Egypt started to limit its orders for LNG shipments in 2017 and those planned for 2018. By early 2019, it hopes to break even, and in the years after it plans to become a net gas exporter again. However, The gas discoveries may solve Egypt’s immediate cash crisis, but it will take more to build a resilient economy.

After IS: Will Mosul reconstruction be next arena of influence in Middle East?

The United Nations (UN) estimates that in the short term, rebuilding will cost at least $1 billion. Lisa Grande, the United Nations Development Programme’s resident representative in Iraq, said it will take about $470 million to restore basic infrastructure including the power, water and sewer systems and to rehabilitate hospitals, schools and houses in the neighbourhoods with the most severe damage in western Mosul. At least another $237 million is needed for the more lightly damaged districts in western Mosul and a further $370 for rebuilding in eastern Mosul.