{"id":626997,"date":"2018-07-17T03:48:03","date_gmt":"2018-07-17T03:48:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/its-legislative-groundhog-day\/"},"modified":"2018-07-17T03:48:03","modified_gmt":"2018-07-17T03:48:03","slug":"its-legislative-groundhog-day","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/its-legislative-groundhog-day\/","title":{"rendered":"It\u2019s (legislative) Groundhog Day"},"content":{"rendered":"

It\u2019s (legislative) Groundhog Day:<\/strong> Legislation was once again the talk of the town on last night\u2019s talk shows after the House of Representatives passed several bills yesterday (all of which we look into in detail in Speed Round), including a few that had stirred controversy the previous day. The only notable exception was Vice Minister of Finance Ahmed Kouchouk\u2019s sit-down with Hona Al Asema\u2019s Reham Ibrahim to explain the economic reform program and its benefits<\/strong>.<\/p>\n

An uptick in investment helped GDP growth rise to 5.4% in FY2017-18<\/strong>, which Kouchouk noted is a huge leap from the 2% GDP growth rate Egypt was averaging between 2011 and 2014. Kouchouk also pointed to other indicators such as the reduction of unemployment to 10.6% as of March 2018. He also dispelled rumors that the government is planning to raise subsidized bread prices, particularly since it would affect around 75 mn citizens.<\/p>\n

Energy subsidy cuts were an absolute must, without which state coffers would have had to dole out another EGP 215 bn<\/strong>, Kouchouk said. He reminded viewers that these expenditures are being redirected towards creating new jobs and shoring up the social safety net, including expanding the Takaful and Karama programs to benefit 2.5 mn people (watch, runtime: 12:59<\/a>).<\/p>\n

Kouchouk\u2019s main talking point throughout the interview was that the government is not leaving people high and dry with its reforms<\/strong>, and is committed to introducing measures that will help increase citizens\u2019 ability to cope with the repercussions of reform. Chief among these measures is the government\u2019s move to increase wages for some 5.5 mn civil servants and raise the minimum threshold for income tax breaks, which he said should benefit more than 20 mn citizens (watch, runtime: 24:40<\/a>).<\/p>\n

Rep. Medhat Al Sherif discussed the Sovereign Wealth Fund Act<\/strong> with Hona Al Asema\u2019s Reham Ibrahim. Al Sherif explained the purpose of the EGP 200 bn fund, whose capital he said is expected to exceed EGP 1 tn once it brings all of Egypt\u2019s underutilized assets under its umbrella. A committee mandated with compiling a database of these untapped assets has thus far listed around 4,130 assets, Al Sherif said, without disclosing further details (watch, runtime: 6:09<\/a>). The fund\u2019s success hinges on it being managed efficiently, Al Sherif said, adding that the fund must also be subject to strict auditing and regulation (watch, runtime: 6:16<\/a>).<\/p>\n

The establishment of the fund is part of the government\u2019s administrative reform drive<\/strong>, investment export Osama Mourad said. The fund would allow for a \u201cregulated\u201d type of privatization that does not necessarily entail the sale of state assets and would instead rely on involving the private sector in managing these assets, Mourad noted (watch, runtime: 6:15<\/a>).<\/p>\n

Rep. Osama Heikal was also back on the airwaves to defend the Press and Media Act<\/strong>, including articles that have repeatedly come under fire for undermining freedom of expression. Heikal told Yahduth fi Masr\u2019s Sherif Amer that social media users naturally have the right to express their opinions through their personal accounts, but quickly rolled back on the idea by saying that social media must be subject to stringent regulation to avoid the dissemination of \u201cfalse news\u201d and rumors. Social media accounts would only be blocked if they are seen as posing a threat to national security, he said. Heikal also explained to Amer that, once President Abdel Fattah El Sisi ratifies the law, the current boards and heads of the three media regulatory bodies \u2014 the National Media Authority, the National Press Authority, and the Supreme Media Council \u2014 will see a shakeup<\/strong> (watch, runtime: 3:00<\/a> and runtime: 3:03<\/a>).<\/p>\n

House reps. also blanketed the airwaves to defend the bill granting Egyptian citizenship to residents<\/strong> in exchange for EGP 7 mn. Parliament spokesman Salah Hassaballah said the legislation is mostly geared towards investors and businessmen (watch, runtime: 7:07<\/a>) while Rep. Shoukry Al Gendy reiterated that citizenship will only be granted to those who pass a thorough security screening and meet other requirements (watch, runtime: 4:56<\/a>).<\/p>\n

National security concerns with the law:<\/strong> The only detractor of the law was the Wafd Party\u2019s assistant head, Yasser Koura, who suggested that opening the floor for people from any country to obtain the Egyptian citizenship might be an issue for national security. Koura also said the bill should have required that the payment be made in foreign currency (watch, runtime: 4:05<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s (legislative) Groundhog Day: Legislation was once again the talk of the town on last night\u2019s talk shows after the House of Representatives passed several bills yesterday (all of which we look into in detail in Speed Round), including a few that had stirred controversy the previous day. The only notable exception was Vice Minister […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626997","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"889904ff-dbc7-4a83-aa78-77f28f0467b9","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[626991],"teaser":"","voice_url":""},"yoast_head":"\nIt\u2019s (legislative) Groundhog Day - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/07\/17\/its-legislative-groundhog-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s (legislative) Groundhog Day\" \/>\n<meta property=\"og:description\" content=\"It\u2019s (legislative) Groundhog Day: Legislation was once again the talk of the town on last night\u2019s talk shows after the House of Representatives passed several bills yesterday (all of which we look into in detail in Speed Round), including a few that had stirred controversy the previous day. 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Tap \/\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571433,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/12\/last-nights-talk-shows-for-12-may-2020\/","url_meta":{"origin":626997,"position":1},"title":"Last Night\u2019s Talk Shows for 12 May 2020","author":"enterpriseam admin","date":"12 May 2020","format":false,"excerpt":"It was a quiet night on the airwaves with only Lamees El Hadidi being of note as the other talking heads marinated in konafa during their Ramadan hiatus. We note Lamees\u2019 segments about the odds of a pre-Ramadan lockdown and her interview with the Finance Ministry\u2019s Ahmed Kouchouk in What\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575409,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/last-nights-talk-shows-imfs-gdp-growth-forecast-for-egypt-no-lockdown-plans\/","url_meta":{"origin":626997,"position":2},"title":"Last night\u2019s talk shows: IMF\u2019s GDP growth forecast for Egypt + no lockdown plans","author":"enterpriseam admin","date":"14 October 2020","format":false,"excerpt":"The talking heads had plenty to mull yesterday thanks to an active news cycle, but no single story dominated the conversation. The IMF\u2019s upwards revision of its forecast for Egypt\u2019s GDP growth in the World Economic Outlook, which was released yesterday, earned airtime on Kelma Akhira (watch, runtime: 1:42) and\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570942,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/el-sisi-inaugurates-new-national-projects-imfs-egypt-growth-projections\/","url_meta":{"origin":626997,"position":3},"title":"El Sisi inaugurates new national projects, IMF\u2019s Egypt growth projections","author":"enterpriseam admin","date":"23 April 2020","format":false,"excerpt":"President Abdel Fattah El Sisi\u2019s inauguration yesterday of national projects east of the Suez Canal was in the limelight on last night\u2019s talk shows. The projects inaugurated yesterday included tunnels running under the canal, New Ismailia City, a new agricultural drainage treatment plant constructed by Hassan Allam and Metito and\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":640797,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/nothing-to-report-from-last-nights-talk-shows\/","url_meta":{"origin":626997,"position":4},"title":"Nothing to report from last night\u2019s talk shows","author":"enterpriseam admin","date":"5 September 2017","format":false,"excerpt":"The denizens of the night (theirs, not ours) had the day off yesterday in continued observance of the Eid, so you may relax: You missed nothing on last night\u2019s talk shows.","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652075,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/last-nights-talk-shows-is-off-today-back-tomorrow\/","url_meta":{"origin":626997,"position":5},"title":"Last Night\u2019s Talk Shows is off today, back tomorrow","author":"enterpriseam admin","date":"28 February 2017","format":false,"excerpt":"Our roundup of last night\u2019s talk shows is off today \u2014 even the wicked need a day of rest every now and again \u2014 and will return tomorrow.","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=626997"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/626997\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/626991"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=626997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=626997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=626997"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=626997"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=626997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}