Blames government for economic crisis

Former Prime Minister Ali Lotfy praised the ministerial reshuffle witnessed in Egypt although it brought a number of Former members of dissolved National Democratic Party to the ministerial positions, including Dr. Ali Al Meseilhy and General Hisham Al Sherif.   He expressed, in an interview with "Arabs Today", his support for this approach stressing that not all members of the formerly ruling party involved in corruption. He stressed the need for benefiting from their previous experience. He also expressed appreciation to the parliamentary to ratify the new members of government, describing it as unprecedented democratic scene in Egypt.   He also supported the decision to merge the ministries, saying that it aims to rationalize the spending in the framework of the current policy to cut the spending. He added that the monetary subsidy is the right way in dealing with the Ministry of Supply.   He criticized the performance of Sherif Ismail's government, blaming its policies for the aggravation of the current economic crisis witnessed in the country. He stressed that the country suffers from the trade imbalance due to the increasing imports.   He also blamed the government for its failure to resolve many problems that led to the current lack of foreign investments and deterioration of tourist sector. He added that the current ministers performed a major role in the decline of Egypt's pound. He called for measuring the ability of the new ministers to deal with the current crises.   He called the minister of finance to take the measures aiming to achieve the interests of citizens through reforming the tax system and implementing the escalating tax.   He praised the decision to liberate the Egyptian pound, saying it came too late. He expressed optimism over the notable improvement witnessed in the value of the Egyptian currency against the dollar, calling the Egyptian people for more patience during the current critical period.   He stressed the need for supervising the markets not to allow traders increasing the prices in illegal way, calling the government to take the necessary measures to ensure the balance of market.