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Reduction in US aid to Egypt and Israel
Egypt-Israel-USA, Economics, 10/22/1998
The draft budget bill approved by the US Congress on Tuesday called for a reduction in the aid provided by the US to both Israel and Egypt by US $100 million for the fiscal year 1999.
The draft law states that Washington is to pay Israel $2.94 billion and $2.075 billion for Egypt.
US economic aid for Israel will be reduced by US $120 million to reach US $1.08 billion, and military aid will be increased US $60 million to reach US $1.86 billion.
Economic aid to Egypt was set at US $775 million, down by US $40 million. US military aid to Egypt will remain US $1.3 billion.
Previous Stories:
Egypt, US sign aid agreement, secretary of commerce to visit Cairo
(10/5/1998)
US offers military sales to Egypt, Israel
(9/23/1998)
Cairo denies pressure to obstruct Israeli - Palestinian agreement
(9/10/1998)
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