The Egyptian government issued on Monday 11 new decisions aimed at curbing state spending, including halting costly new projects, as the Egyptian pound struggles against foreign currencies. The steps come as Egypt suffers a shortage in foreign funding in the aftermath of Russia’s invasion of Ukraine. Authorities have devalued the Egyptian pound three times in the past year, eventually securing a $3bn International Monetary Fund loan programme. The decree also restricts officials from the government and state agencies from non-essential travel without prior approval from the prime minister. It exempts officials from the health sector and state agencies that procure vital commodities as well as the defense and interior ministries.
