13 November 2012

Egypt: Prime Minister Sees Light At the End of Tunnel With Egypt Economy

Prime Minister Hisham Kandil said on Tuesday that he is optimistic about Egypt's economy, adding that implementing social justice, reallocating subsidy and attracting investors are on his cabinet's priority list.

A popular uprising succeeded last year to topple former President Hosni Mubarak but unrest that followed negatively affected the economy of the already-improvised country.

The Egyptian PM said on Tuesday that his cabinet intends to back the private sector and civil society, adding that non-governmental organizations will have a more influential role in future Egypt.

He expressed wishes for the government to lend more support to the families of January 25 martyrs and injured as well as women and children but did not reveal plans to execute such plans.

Kandil presented to Egypt's president a development scheme aiming at social justice and putting the economy back on its feet.

Rethinking subsidy on energy, petroleum to be more specific, was part of the scheme.

Egyptian President Mohamed Mursi appointed Kandil in August to head a cabinet that groups both Muslim Brotherhood supporters and senior officials from the former dissolved government.

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