The country is also in talks with Gulf states and the IMF over financial aid to support the battered economy.
Increased stability is also boosting Egypt’s tourism industry. The government projects 12 million tourists will visit by the end of 2012, a 23% increase year-over-year, according to Ahram Online.
“Four million people work in tourism, while more than 14 million are impacted by it indirectly,” Minister Mounir Fakhry Abdel Nou said in a press conference, adding Egypt could see tourism revenues of $25 billion, double the figure it earned in 2010, by 2017.
Market Vectors Egypt Index ETF
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Max Chen contributed to this article.