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Egyptian finance minister issues immediate measures

By the CNN Wire Staff
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Egypt protests threaten global economy
  • Samir Radwan made the announcement on state TV
  • The measures involve compensation and food subsidies
  • Unemployment payments will also increase
  • Egypt

(CNN) -- Egypt's new finance minister announced Tuesday immediate economic measures to help the country get back to normal, including compensation for people who've been out of work.

"Unemployment will increase due to this destruction and because economic life has been halted for more than a week now," Samir Radwan said on Egyptian state television.

"We have also taken a decision that every one who works and has been out of work because of these events will receive unemployment compensation. This is the quick solution which the Finance Ministry saw as its duty to offer to the Egyptian people."

Salaries will be disbursed through automatic teller machines and people who've had their businesses damaged will be compensated, Radwan said.

He also decided to release food shipments from customs without paying custom duties at present.

"We will delay the payment of custom duties for a later time," Radwan said.

Also, food subsidies will remain in place "despite the increase of international prices," he said.

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