Formation of Two Economic and Polit
Formation of Two Economic and Political/Legislative Committees
Following the formation of the new Government – headed by Dr. Hisham Kandil– the Prime Minister issued Decree No. 910 of 2012 (published in the Official Journal, Issue 33 (bis), on August 16th, 2012) forming an Economic Ministerial Group to be chaired by him and including the Governor of the Central Bank of Egypt, as well as the Ministers of Finance, Planning and International Trade, Investment, and Industry and International Trade.
The Decree states that the Economic Ministerial Group shall be responsible for setting out the general framework for the economic and fiscal plans for Egypt, in order to “encourage growth and employment while achieving fiscal; sustainability and economic stability”. The Decree also states other roles, but they are mostly void of specific powers.
Although in normal circumstances this Decree would have been considered a procedural matter, however in current conditions and in view of public opinion anticipation for signs of the nature of the new Government’s new policies, it is useful to
note the following:
• That it is the Minister of Finance – and not the Governor of the Central Bank – who is in charge of managing the Group, which may indicate the nature and emphasis of issues to be covered by it.
• That the Decree puts a significant weight behind the improvement of growth and employment indicators, without much reference to the broader subject of social policies that are anticipated by the public opinion (including issues to do with
income reform, and improvement of basic services). This may indicate the current Government’s interest in achieving early positive economic indicators and postponing tackling the contentious social files.
On the other hand, the Prime Minister also issued Decree No. 908 of 2012 (published in the Official Journal, Issue No. 34, published on August 23rd, 2012) forming a Ministerial Committee for Political and Legislative Affairs, to be headed by the Minister of Justice, and the membership of the Ministers of Finance, Investment, Parliamentary Affairs, Interior, Information, and Industry and International Trade. The Decree further states that the Group is in charge of preparing the Government’s legislative agenda and reviewing proposed laws and conducting a “societal debate” around them, in order to “achieve the Revolution’s goals and modernize the State”. Clearly this Group will be working primarily on economic legislation but it does not look like it is going to be tackling political files.
Following the formation of the new Government – headed by Dr. Hisham Kandil– the Prime Minister issued Decree No. 910 of 2012 (published in the Official Journal, Issue 33 (bis), on August 16th, 2012) forming an Economic Ministerial Group to be chaired by him and including the Governor of the Central Bank of Egypt, as well as the Ministers of Finance, Planning and International Trade, Investment, and Industry and International Trade.
The Decree states that the Economic Ministerial Group shall be responsible for setting out the general framework for the economic and fiscal plans for Egypt, in order to “encourage growth and employment while achieving fiscal; sustainability and economic stability”. The Decree also states other roles, but they are mostly void of specific powers.
Although in normal circumstances this Decree would have been considered a procedural matter, however in current conditions and in view of public opinion anticipation for signs of the nature of the new Government’s new policies, it is useful to
note the following:
• That it is the Minister of Finance – and not the Governor of the Central Bank – who is in charge of managing the Group, which may indicate the nature and emphasis of issues to be covered by it.
• That the Decree puts a significant weight behind the improvement of growth and employment indicators, without much reference to the broader subject of social policies that are anticipated by the public opinion (including issues to do with
income reform, and improvement of basic services). This may indicate the current Government’s interest in achieving early positive economic indicators and postponing tackling the contentious social files.
On the other hand, the Prime Minister also issued Decree No. 908 of 2012 (published in the Official Journal, Issue No. 34, published on August 23rd, 2012) forming a Ministerial Committee for Political and Legislative Affairs, to be headed by the Minister of Justice, and the membership of the Ministers of Finance, Investment, Parliamentary Affairs, Interior, Information, and Industry and International Trade. The Decree further states that the Group is in charge of preparing the Government’s legislative agenda and reviewing proposed laws and conducting a “societal debate” around them, in order to “achieve the Revolution’s goals and modernize the State”. Clearly this Group will be working primarily on economic legislation but it does not look like it is going to be tackling political files.