The executive council of Egyptian Nahda (Renaissance) project has signed cooperation protocol with Peru’s Institute for Liberty and Democracy, so as to resume studying the unofficial economy states in Egypt; paving the way for resolving this problem for the interest of citizens and Egypt either.
Ashraf Serry, Executive Director of Nahda(Renaissance) Project, said the project seeks discussing the economic experiences around the world. The “Hernando project”, which is of the economist Hernando De Soto- Chairman of Institute for Liberty and Democracy, started in Egypt since 2000, and lasted for four years. But it was suspended because the former regime didn’t have political administration. So we seek providing political administration that revives the Egyptian economy.
He added that Egypt can achieve economic boom without amending laws, but by implementing the existing laws. He said our attempts to merge the unofficial economy with the state’s economy may boost the growth rate, 2% out of the state’s total economic growth; consequently Egypt’s cash reserve will be revived.
