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Al-Ahram Weekly 7 - 13 October 1999 Issue No. 450 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 7 - 13 October 1999 Issue No. 450
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Interview Features Profile Travel Living Sports People Time Out Chronicles Cartoons Letters Social responsibility
In his speech before parliament after taking the oath on Tuesday to begin a new six-year term President Hosni Mubarak repeatedly emphasised the importance of striking a balance between necessary economic reforms and protecting the interests of low income groups.He said the state remains committed to encouraging private sector expansion, but also called upon investors to act responsibly towards society.
In the mid-1980s Egypt was criticised by international funding institutions for the "slow" process of economic reform. But Mubarak's insistence on a gradual approach in carrying out the necessary reforms proved to be correct, saving the country from the disasters that afflicted Russia and other former communist countries.
Recent reports released by the same funding institutions now concede that economic reform is not simply a matter of figures and balances which go down, but must factor in improvements in the standard of living of the majority. This should be the main target of any economic reform process.
The future, Mubarak said, requires changes and the "introduction of new blood" in top posts. And the prolonged applause with which this statement was received reflects the feeling of many Egyptians. Newly appointed Prime Minister Atef Ebeid is likely to take this into consideration when he forms his cabinet. New blood means new ideas, and a boost to the dynamism which will be necessary to implement the targets the president announced in his speech.
Limiting the mandate of some ministries so that they can focus more clearly on the urgent tasks in hand, and creating new portfolios such as science and technology, are among the expected changes in the new prime ministers' cabinet.
One difficult stage of reform is over, the president said. Yet the next stage is likely to be equally challenging. In a highly competitive international arena, facing all the pressures of accelerated globalisation, it will take a harmonious cabinet, with clear aims and objectives, to guarantee the successful undertaking of the necessary reforms.
