Friday, Sep 19, 2014Friday, Sep 19, 2014
News
 

Egypt's Mursi downplays economic crisis

Published on Dec 29, 2012 10:25 PM
 
Egypt's President Mohamed Mursi speaks to the nation after signing Egypt's new constitution in Cairo Dec 26, 2012, in this handout photo released by Egyptian Presidency office. President Mursi downplayed on Saturday the country's teetering economy before a newly empowered senate, and insisted that a new constitution that fuelled protests guaranteed equality. -- PHOTO: REUTERS

CAIRO (AFP) - Egypt's President Mohamed Mursi downplayed on Saturday the country's teetering economy before a newly empowered senate, and insisted that a new constitution that fuelled protests guaranteed equality.

Since the constitution's acceptance in a two-stage referendum this month following weeks of often violent protests, the Islamist Mursi's government has sought to downplay fears of a downturn amid a declining Egyptian pound.

In his address to the senate, which the constitution invests with legislative powers until a new parliament is elected in two months, Mursi insisted there had been gains as well as losses in the battered economy.

"General indicators for the social and economic situation have shown some noticeable progress," Mursi said, blaming the weeks-long protests in November and December for damaging tourism.

 
If you are not a subscriber, you can get instant, unlimited access here