CAIRO: Egyptian economic expert Salah Haydar stressed the necessity for rationalizing expenditure to overcome the economic crisis, warning that increasing prices will surpass any potential wage increases. Haydar said the country needs to increase production and investments, adding that Egypt should encourage foreign investments back to ease pressure on national banks and the financial deficit. He demanded the Egyptian authorities adopt suitable and effective economic policies to achieve stability by taking decisions aiming to attract more investments and provide incentives for investors. He urged the next parliament to focus on achieving social justice to meet the public's expectations, adding that Egypt's decision makers face the additional challenge of poor international economic expectations which will negatively affect investments and tourism. Haydar said financing the economy is a top priority and should be done by drafting a short-term agenda ensuring reforms of governmental subsidies and adopting policies achieving growth.
