Egypt is currently suffering from multiple shortages in both energy and supply goods, and will seek to address such crises in cooperation with “friendly” nations, according to Prime Minister Hizam El-Beblawi.
El-Beblawi said such countries would help Egypt address its budget deficit and high spending costs via long term partnerships that would last until the end of next year. He further added that no economy can develop in the absence of peace and stability.
The Ministry of Finance is currently working to provide guarantees to prevent additional increases in the country’s budget deficit, El-Beblawi said, pointing to recent aid received from Arab countries as a factor that would help improve Egypt’s standing within the international community. He added that no “rational” country would seek to cut off its relationship with international finance institutions.
El-Beblawi added in a recent statement released from the cabinet that the country’s current government sought to pursue the goals of the January 25 Revolution, and that he was saddened by every drop of blood that had been spilt as a result of recent events.
He stated that Egypt was a country for all of its citizens, on the condition that violence is not used as a means of political coercion, that religion does not become fused with politics and that minorities do not become subject to harassment or attacks.
He described the placement of former president Hosni Mubarak under house arrest as a “precautionary” measure, which served the country’s national security interests.
Translated from Al Borsa