Modernization of Egypt, main project of the century

In an interview run by Al Ahram daily, Prime Minister Atef Ebeid stated some facts about the government's policy and program recently declared at the People's Assembly. Following are excerpts from the interview:

* This year, the government policy statement included four specific programmes; one for providing decent life to the poor, the second for providing the basic services, especially the drinking water; the third for economic development, and the fourth for modernization of the Egyptian society.

* Egypt, in Mubarak's era, had economic bases, that realized a surplus in all goods and commodities.

* The indications revised by international institutions incite optimism.

* Inflation rate was controlled, and restricted to 2.8 percent.

* The budget deficit was limited to 3.6 percent.

* The reserve of the foreign exchange reached US $ 14.2 billion.

* The total of debts has dropped by L.E. 1.3 billion.

* The deposits in Egyptian pound have increased by L.E 14.8 billion.

* The deposits in US dollar have increased by US $ 2.1 billion.

* Investments have increased by US $ 500 million, including US $ 1.5 billion in the petroleum sector only.