Samir Radwan: State’s Budget “Confined”

The former finance minister Samir Radwan said the state’s budget for the fiscal year 2012-2013 doesn’t suit with president Mohamed Morsi’s demands which concern his program “renaissance”; describing it as “confined”.

 On the sidelines of the conference which organized by Crédit Agricole Egypt, entitled “Supporting Trade & Investment”, the growth rates of the state’s budget, which is ranging from 4 to 4.5%, doesn’t suit with the existing data; representing in the saving’s volume 13%, and the rates of demanded investment, which reaches 15%. This refers to a gap between the investments’ volume and savings rates.

 He elaborated that a new president- elected plus the prospective government formation will contribute to the stability during the coming period. This will bolster the investments’ volume, especially after completing the elements of a democratic state. He emphasized on stipulating the aims and mechanisms which will achieve development at the current critical period.