Dr Ali Lotfy, former prime minister, explained that the president- elected Mohamed Morsi is facing a number of economic challenges; referring that it should stipulate priorities to rapidly work on. The most important priority is restoring security in order to help the foreign investment and tourism back, as well finishing the procedures of relinquishing power in order not to clash with the other sides.
He told Amwal Al Ghad that the necessary measure for rationing expenses is to restructure the Egyptian ministry of interior in order to achieve more stability and security, as well as to lessen the number of Egypt’s embassies and diplomatic bureaus abroad, affirming that their current number only suits rich countries.
Lotfy said Egypt has whopping exterior diplomatic base doesn’t suit its bad economic state, whereas the expense on these bureaus and embassies is by the hard currency, at once Egypt suffers its lack; because the cash reserve lost more than 65% of the hard currency.
