Gold prices slips on Monday    Egypt's Khalda Petroleum makes new gas discovery of 36 MMcf/d    Oil prices fall on Monday    Al-Sisi calls for faster port development, seeks expanded foreign investment in SCZONE    Tensions mount ahead of UN vote on Gaza plan as Israel holds hard line, humanitarian crisis worsens    Egypt emerges as MENA leader in adopting Societal Value of Health framework: Roche    El-Shimy chairs HOTAC general assembly to approve 2024/2025 financial results    Beauty for Better Life empowers 1,000 women in Egypt over three years    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Emirati Arkan debuts in Egyptian market with EGP 10bn SLCITI    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Cairo intensifies regional diplomacy to secure support for US Gaza resolution at UN    Minapharm, Bayer sign strategic agreement to localize pharmaceutical manufacturing in Egypt    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt's new PM vows to rebuild economy
Published in The Egyptian Gazette on 07 - 03 - 2011

CAIRO - New Prime Minister Essam Sharaf said on Monday he would work to get Egypt's economy back on its feet after weeks of protests and political turmoil, speaking after a ceremony to swear him and his new cabinet into office.
The cabinet reshuffle is the latest reform to meet the demands of protesters calling for a purge of officials linked to Hosni Mubarak, who was forced from the presidency on February 11.
Analysts said the new government would have to tread a fine line as it works to meet the high expectations of newly empowered Egyptian workers while restarting an economy that nearly ground to a halt during weeks of protests.
"Our priorities are to regain security and stability as fast as possible and to get the wheel of production rolling again," Sharaf told reporters.
In the wake of protests, workers have gone on strike for better pay, while high prices that drove people to the streets remain high, the stock market has stayed closed after more than a month and the Egyptian pound has weakened.
"We confirm that Egypt's economy is a free economy but within the framework of social justice," Sharaf added. "The economy will come back stronger than it was before."
New interior, foreign affairs and justice ministers were sworn in, key portfolios that were important targets for reformists.
Until Sharaf's appointment, those posts had stayed in the hands of ministers appointed when Mubarak was still in power.
Nabil Elaraby, a former International Court of Justice judge, was named minister of foreign affairs, replacing Ahmed Abul Gheit, the face of Mubarak's foreign policy since 2004 and the most prominent minister to hang onto his post this long.
Mansour el-Essawy, appointed interior minister, is not viewed as being part of the inner circle of former Interior Minister Habib al-Adli, who held the post for 13 years until Mubarak removed him from his job last month, analysts said.
The newly named justice minister, Mohammed al-Guindy, has pledged to fight corruption and run presidential and parliamentary elections overseen by the judiciary, sidelined when Mubarak was in power and elections were routinely rigged.
"The new cabinet has a grace period of about a month," said Ezzedin Choukri-Fishere, professor of political science at the American University in Cairo. "It comes on a wave of goodwill and optimism, because everyone wants this government to work."
"But at the same time, they have a grace period that is very short because the expectations are so high. If they don't start the key work soon, these expectations will be dashed and turned into something else."
One of the main challenges will be redeploying the police force, which largely disintegrated in the early days of the uprising and is tarnished by a reputation for brutality that helped fuel the protests.
Essawy vowed on Sunday that he would work to improve the image of the police force and shrink the role of the state security apparatus, hated by many Egyptians particularly after their conduct during the demonstrations.
Protesters have stormed state security offices in recent days to press their demands for change.
Egypt's military rulers designated Sharaf prime minister last week, replacing his predecessor Ahmed Shafiq, a retired air commander seen as having been close to Mubarak.


Clic here to read the story from its source.