Parliamentary elections, source of pride to President Mubarak
Egypt, Politics, 11/7/2000

Egypt's Prime Minister Atef Ebeid said parliamentary elections, now underway in Egypt, are a source of pride to President Mubarak who has ushered in an unprecedented atmosphere of freedom.

The prime minister added that, with the completion of the parliamentary election by mid-November, we will have fully rectified the course of national action, starting with economic reform, providing protection for vulnerable categories and ultimately allowing a favorable climate for democratic practice.

Addressing the inaugural session of the Shura Council yesterday, the Prime Minister said President Mubarak has exerted strenuous efforts to contain the volatile situation in the occupied Palestinian territories, to rally Arab ranks and to mobilize international efforts for saving peace.

On the economic situation, Atef Ebeid said the government has successfully managed to address the issue of imbalance between resources and expenditures and to provide genuine resources for repaying the state arrears which amounted to LE 8 billion at the end of June 1999.

He said genuine resources were currently being provided for the repayment of remaining entitlements valued at LE 7.8 billion until the end of last July.

He said the government has taken measures to maintain balance between supply and demand in foreign exchange in line with rules of transparency. He asserted that Egypt's foreign exchange reserve is strong and is enough for covering imports for a period of one year, referring to the government's support for serious businessmen that they may repay their debts.

He said citizens deposits are secured. Ebeid said the government has decided to reopen the door before poor families to benefit from Mubarak pension, thus bringing the number of beneficiaries to one million families.

He said the government has agreed to sell lands already built up in squat areas at nominal price and will supply those areas with all utilities in a bid to improve citizens conditions.

Previous Stories:
  Current elections mirrors freedom under Mubarak   (11/6/2000)
  People's Assembly election results reflect genuine voters will   (11/4/2000)
  Elections in Egypt   (11/1/2000)

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