The Egyptian economy has not collapsed despite the impact of the 25 January revolution, according to Finance Minister Samir Radwan. He said it has not been seriously affected because it does not depend on a single commodity. Radwan asserted this at a press conference today, while admitting that macroeconomic indicators may not be entirely satisfactory. He added that the revolution won Egypt the sympathy of several world officials who have expressed willingness to support its economy. The general budget deficit to gross domestic product for the fiscal year 2010/2011 was projected to be 7.9 percent, but is now expected to be around 8.5 percent, Radwan added. The finance minister explained that the main objective of the general budget is to achieve social justice for Egyptians, adding that public expenditure will target those categories deserving of help. Wheat, flour and oil have all been made available for the coming period, and reserves of basic commodities are safe, he said.
