Egypt is not following in Venezuela economic footsteps, Patrick Werr writes in The National. “The key difference is ­money supply. Although Egypt has been printing money to help fin­ance its budget deficit for several years, the amount of money creation has been subdued compared with Vene­zuela’s. Although Egypt’s M2 money supply grew by a worrisomely high 18.1 per cent in the year to September, there are few signs that the rate of increase is growing. As a matter of fact, it has been at around this level since early 2013.” Another promising sign, Werr says, is that Egypt is in close contact with the IMF and has already committed itself to reform measures in order to secure the USD 12 bn financial support package.