Sisi names 10 new ministers in Egypt cabinet reshuffle

2016-03-23 18:02
Abdel-Fattah el-Sissi. (Fady Fars, AP)

Abdel-Fattah el-Sissi. (Fady Fars, AP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cairo - President Abdel Fattah al-Sisi on Wednesday swore in 10 new ministers in a cabinet reshuffle, as Egypt struggles to revive an economy battered by falling tourism revenues and foreign investments.

The government shake-up - mainly of economic portfolios - comes just six months after Sisi inaugurated a new administration led by Prime Minister Sharif Ismail, following the resignation of the previous cabinet after a corruption scandal.

The ministers of tourism, finance, investment, justice, civil aviation, irrigation, human resource and antiquities were replaced, and a new ministry for public works was added to the cabinet.

"Ten new ministers were sworn in by the president today," Sisi's office said in a statement without giving a reason for the reshuffle. The new cabinet consists of 34 ministers.

The reshuffle comes as the economy continues to falter on the back of falling tourism revenues, a cornerstone of the economy, and foreign investments.

Tourism, hit by years of political turmoil since the ouster of longtime leader Hosni Mubarak in 2011, was dealt a body blow after a bomb brought down a Russian airliner over the Sinai Peninsula on October 31.

All 224 people on board, mostly Russian tourists, were killed in an attack claimed by the jihadist Islamic State group, which is spearheading an insurgency in the peninsula.

Revenues from tourism slumped 15% to $6.1bn in 2015.

The shake-up also comes days after Egypt's central bank devalued the Egyptian pound as it faces an acute shortage of foreign currency inflows.

Egypt's foreign exchange reserves have fallen from more than $36bn in 2010 to about $16bn, despite roughly $20bn given in aid to Cairo by its powerful Gulf allies.

The central bank said last week that the reserves would recover to $25bn by the end of 2016, boosted by "foreign investments and an increase in the competitiveness of the Egyptian economy".

Read more on:    abdel fattah al-sisi  |  egypt  |  north africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.