oh where do we start !! oh yes
As per al Ahram “S&P downgrades Egypt’s credit-rating from B to B- following long weeks of internal turmoil over a constitution drafted mostly by Islamists” read more here <
As per Reuters “ Egyptian President Mohamed Mursi will have little time to savor victory in pushing through a new constitution as it may have cost the Islamist leader broader support for urgent austerity measures needed to fix the creaking economy. ” read more here
oh and those taxes that they said that wont take place… already the minister of finance is talking about “The recently announced tax hikes ratified by President Mohamed Morsi and revoked by him shortly after due to public outcry target tax evasion loopholes that are being exploited by some to avoid financial accountability, said Momtaz El-Said, Egypt’s minister of finance, in a press statement following a meeting with the Egyptian Federation of Investment Association (EFIA) on Sunday. ”Amendments to the tax law in reality will not affect low-income segments, and are not in any way burdensome to the most disadvantaged in our society, said El-Said. “ Read more here
But wait even METRO market is not safe !!! MAF (Majed Al Futtaim) Group based out of UAE is interested in buying out METRO Market ! so yay our country is for sale… even the supermarkets are (read more here)
with all that being said, lets not forget we as a country as supposedly going bankrupt by end of February as per reports, and of course rumors of floating the pound means the economy will be shattered even more..
THANK YOU MORSI !