Ashraf Salman, Chairman and Managing Director of Cairo Capital for Financial Investments, has asserted that the quick restructure of the state’s institution is necessary for the Egyptian market in order to foster the development of the country’s economic system.
“Egypt did not adopt the institutional system in which all the state’s institutions follow dynamic laws that would secure the sovereignty of the law.” Salman added
“Such an institutional restructure requires having an elected parliament responsible for making laws which would contribute to the success of the restructure process.”
He noted that the institutional restructure shall help in facing the challenging crisis such as inadequate rates of gross domestic product (GDP), foreign currency shortage, increasing rates of population, and state resources deficit. It shall also deal with other challenges such as having more imports than exports, and the state’s budget, trade balance which need to be reconsidered.
