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El-Sisi's Trump Triumph Contrasts With Fight to Spur Economy

  • March PMI shows private sector hard-pressed by added costs
  • Businesses passing costs to consumers in impoverished nation
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Pres. Trump Meets With Egypt's President El-Sisi

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Egypt received some unsettling news after President Abdel-Fattah El-Sisi’s upbeat visit with Donald Trump: Gains in private sector economic activity reversed course in March, suggesting the economy hasn’t yet turned the corner despite painful austerity measures and currency reform.

Analysts had said a cordial White House visit would help to validate the Egyptian leader’s war on Islamists and measures he promoted to boost an economy that’s struggled since longtime president Hosni Mubarak was overthrown in 2011. El-Sisi, eager to keep about $1.5 billion in annual U.S. aid intact, received a warm welcome on Monday from Trump, who said he’s “done a fantastic job in a very difficult situation.”