Calls by business for presidential intervention are a policy failure

Calls by business for presidential intervention are a policy failure, former deputy Prime Minister Ziad Bahaa El Din suggest in his weekly Al Shorouk column. He does not believe the government was prepared to respond to the economic and social ramifications of the EGP float, although he sees it as having been the right (if overdue) move. Bahaa El Din points specifically to the Federation of Egyptian Chambers of Commerce plea to the President to intervene to find a solution for their open position “crisis” which had then required them to repay, in EGP terms, double what they budgeted for prior to the float. He sees this as a sign of failure. Countries progress when they are able to manage the conflicts between the different social and business segments in a balanced and democratic manner. Bahaa El Din says this is currently unattainable with a weak parliament and the absence of effective local governments, credible opposition, and the restrictions on freedom of expression. This is why people and businesses alike skip the regular channels to complain to the president directly.