Egypt Counts its Remaining Wheat Stocks

Saudi Arabia, Qatar, and the rest of the oil-rich Gulf Arab countries, are expected to expand their economies even more than what was estimated earlier. Saudi Arabia in particular is widening the wealth gap with the region’s energy importers, while the political turmoil from Egypt to Lebanon stifles these countries’ economic growth.

 “While Saudi Arabia adds $1 billion a week in savings, Egypt is now counting its remaining wheat stocks,” Economists from HSBC said in a report published last month.

Gulf Arab states have invested billions of dollars into their economies to create jobs and avoid expected unrest which toppled other governments like Egypt, Libya and Tunisia. This economic gap has undermined Egypt’s political blow, as its government grew more reliant on aid from countries such as Qatar to prevent an economic collapse.

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