Fouad Abou Steit: MB’s Economic Platforms Not Practical

Fouad Abou Steit, economics professor, said the capacity of Egypt’s economy doesn’t bear EGP 200 billion during few years as it was mentioned in Muslim Brotherhood’s plan of achieving economic reform for Egypt.

He referred that the MB sat the renaissances project which included general lines and economic promises, without clarification or explaining the items or mechanisms by which the project will be implemented.

The Senior Commander Ahmed Shafiq’s platform is distinguished by one factor that is achieving the security which is the base for any coming development, in addition, increasing the foreign investment flows as suggested strategies for developing economy; describing Shafiq’s platforms as real.

From the other hand, Abou State said the post-revolution economic growth rates were high, but the return was oriented to few businessmen. Meanwhile, after the revolution the growth rates decreased.

He added that Egypt suffers structural problems and economic causalities in all sectors. The stock losses reached EGP 193 billion, and the cash reserve retreated to reach EGP 15 billion, moreover, the losses of all the other sectors, especially tourism.