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Prime Minister Hesham Qandil denied on Tuesday reports of an upcoming Cabinet reshuffle, stressing that the economic situation has become far more difficult as a result of the political instability.
Qandil said in a press statement, “As a result of the political atmosphere, and after halting the decision of [increasing] the taxes on certain goods, the government requested postponement of the IMF loan for a month.”
“The government is negotiating to amend a number of transactions up to US$100 billion,” Qandil added.
A high-level source told Turkish news agency Anadolu on Tuesday that a Cabinet reshuffle will be conducted by President Mohamed Morsy after the referendum on a new constitution next Saturday.
The source, who refused to be named, said the reshuffle will include a new transportation minister, as the position has been empty since the dismissal of the last minster after the Assiut train tragedy in November, and new finance and local development ministers.
Edited translation from Al-Masry Al-Youm