The Future of Egypt…

Especulations as to what might happen in Egypt as well as in other countries participating of the Arab Revolt come in handy for everyone. It is agreed by most analysts that the future of some of the Arab Spring countries, including Egypt, are based in part on the elections and/or political reforms that are currently taking place.

In the Egyptian case, some economic recommendations came out of a workshop that took place in Cairo during September 28, 2011:

  • There is a need to address issues of corruption and crony capitalism,

both of which are seen to have been endemic in Mubarak-era

policies.

  • There is also a desire for greater regionalism in Egypt’s economic

policy. An economic union with other countries experiencing political

transition could involve free movement of labour and capital, and a

more integrated trade policy.

  • The establishment of a set of rights and obligations for investors,

consumers and workers would represent an important step towards

creating a more just business environment, and should also

contribute towards improved labour productivity.

  • New mechanisms for collecting and publishing transparent financial

information are strongly needed. These could be established through

legislation that encourages greater information transparency.

  • Other recommendations included: setting a minimum wage; focusing

economic policy on the achievement of social justice; reforming the

education system; and finding ways to make the public sector more

efficient.

Taken from: Chantam House

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