The Trump administration announced last week that it is cutting or delaying nearly $300 million in military and economic aid to Egypt ($195 m. in military aid suspended and $95.7m. in economic and military assistance cut entirely and to be redirected to other countries) over human rights concerns
This comes in light of the Hearing to Review United States Assistance for Egypt that was held by the Congressional Subcommittee on State, Foreign Operations, and Related Programs on April 2017 (Senate). Egypt's officials described this decision as a misjudgment of the strategic relations between the two countries
Egypt's economy will not get affected by US aid cut according to the American Chamber of Commerce in Egypt "AmCham" (Daily News Egypt). "Since 1979, Egypt has been among the top recipients of U.S. bilateral foreign assistance to the world. In 2016, it was the third largest recipient in the world and the second largest in the MENA region after Israel." (AmCham website)
While Egypt receives different types of aid from various countries and institutions, the effect of this aid has to be examined in light of the new research that shows that developing countries send trillions of dollars more to the west than the other way around, according to Jason Hickel in his article "Aid in reverse: how poor countries develop rich countries" (The Guardian).