On 18/1/2011, the pound dropped to its lowest value in 6 years w.r.t. to US dollar , 5.8211 . The government borrowed 124. 1 billion pounds as of 2009/2010, with an increase of 34. 2 billions as of 2008/2009.
The public debt increased significantly at the end of June 2010 to reach
810. 5 billion pounds, with an increase of 105 billion in the same period of the previous year, while the domestic debt is 773. LE 8 billion, and the total external debt is 143. 1 billion pounds.
The value of total debt is 79% of the national gross production. As well, it is worth noting that these debts do not include the debts of economic bodies as we are unable to estimate due to governmental non-disclosure.
The Egyptian Center for Economic and Social Rights considers these figures as indicators to the inability of the NDP governments to set real solutions to the economical crises as a result of faulty policies . These policies are tailored for the interests of the rich only . The poor barely gets traces and crumbs.
They turned the Egyptian economy to a loser follower of the global economy that bears all risks without enjoying the benefits. Egypt was affected by the global economic and financial crisis yet only the poor paid the price.
We suffer not only the lack of equitable distribution of development returns, not only the monopoly resulting from the alliance of authority and money , but we are facing an economic pattern that maximizes the opportunities for corruption. We are facing n inhumane economic pattern that widens and deepens poverty and considers the basic rights and needs of citizens as commodities for those who can afford to pay amidst low wages, limited employment opportunities ,deterioration of living standards and shallow education that would not help the citizens out from the circles of poverty.
This is a rather alarmingly and steady retreat of the economic and social rights for the majority of citizens. As well as the aspirations of the Arab region especially after revolution in Tunisia, and the escalation of public protests to the extent of people burning themselves in an expression of oppression and poverty. Egypt has witnessed attempts of three citizens to burn themselves before the parliament house leaving one victim.
Khalid Ali , ECESR manager said ,”The present moment can not tolerate any partial or temporary solutions to circumvent the basic needs of citizens . As well denial is useless , we need radical changes and adopting of new policies to restore economic and social rights and make social justice, democracy and the eradication of corruption, the main pillars of society”.
In this context, ECESR urges decision makers to open community dialogue with genuine participation of all social and political forces in order to recover from this dangerous and frustrating situation. ECESR requests a response to the demands announced on January 15th : الاستقراءة صوتية للكلماتالقاموس – عرض القاموس المفصل
1 – Set a minimum wage in the community proportional to prices to ensure a decent life for citizens. As a start , EGP 6000 is suggested as a minimum basic wage to be increased according to inflation rates.
2 – set a maximum limit of wages a per Article 23 of the Constitution.
3 – Control prices of essential goods and services.
4 – stop any increases in water, electricity, gas rates and medicines prices, etc. ..
5 – Overturn the decisions of the Minister of Health and local development on new regulations for educational and public hospitals.
6 – Any amendments in the laws of the civil service, health insurance and labor unions should only be effected after community discussion and taking into account the social dimension of the relations of work and the right to health.
7 – Review of policies and tax laws so as to achieve tax justice.
8 – Declaration of a clear government plan to reduce unemployment .
9 – Set a monthly unemployment benefit for unemployed equal to the minimum wage.
10 – Contracting of temporary workers that in state administrative sector amounting to 450,000 workers and giving them complete rights.
11 – stop forced displacement of the poor under the pretext of the development of slums.
12 – set a maximum limit of land seized by companies and businessmen
13 – stop the emergency state and release all detainees.
14 – Formation of a Constituent Assembly which represents all political and social forces and civil society organizations to develop a new constitution that guarantees freedoms and the establishment of true democracy.