When one million Egyptians protest in Tahrir Square, calling for the downfall of the regime, and when another million Egyptians follow suit on the next day, this leaves no room for any debate. The matter was thus settled, and the regime of Hosni Mubarak collapsed. Today, the new transitional government is seeking to establish the foundations of a new regime, a democratic one that respects the tenets of social justice. But every revolution is followed by a period of chaos, and Egypt is no exception. However, I fear that if the Egyptians do not all return to work quickly, the one million educated youths who demonstrated because they had no job opportunities, might become two or three million. Today, I write out of concern for Egypt and love for its people. I hope with the revolution of rage still ongoing, that the government and the people will maintain the positive aspects of the Egyptian economy, and to build upon these, as many other faults are addressed. I do not condemn or exonerate anyone from the former regime, and leave judgment in this regard to the Egyptian courts, and accept any verdict they reach, whether it is conviction or acquittal. I then hope for a better future that does not undo the existing advantages, and that addresses the many problems attributed to the former regime. Ahmed Nazif's government had achieved great success in stimulating the Egyptian economy on strong modern and competitive fundamentals, but had failed greatly in combatting corruption. As a result, the economic progress year after year did not benefit the poor, and the ensuing gains remained confined within the privileged upper-class. When Mubarak was still in power, I wrote that the ordinary Egyptian did not benefit from the improved performance of the economy (this material is available for those interested), and I expressed my opinion in this regard to Gamal Mubarak in my last meetings with him, and he did not deny it. Perhaps the reader would be surprised to read that the World Bank and the International Monetary Fund (IMF) nominated Egypt to become one of the Tigers of the Middle East by 2020. The GDP had increased 3.2 percent in 2003-2004. Then with Ahmed Nazif's government, and its officials holding economic portfolios being prominent businessmen, the GDP gradually increased from 4.1 percent in 2003-2004, to 4.5 in 2004-2005, 6.8 in 2005-2006, 7.1 in 2006-2007, and 7.3 in 2007-2008 (These figures were published by the IMF in 2009). I asked Gamal Mubarak about the GDP percentage increase since the start of the global financial crisis in 2008, and he said the number was 4.23 percent in 2009, which is a very good rate, because many economies in the East and the West had contracted after the crisis. In truth, I have with me a report issued by the IMF dated 9/3/2010 which says that Egypt had overcome the global financial crisis and which included positive figures on each page of the report. Now, I am not noting down these figures in order to defend the government of Ahmed Nazif at all, but rather, to say that one must build on what has been achieved, while corruption must be systematically combatted until economic gains benefit the lower castes of society. Perhaps there is a selfish reason for today's column, other than my professional interest in and personal fondness for Egypt, because recent decades show that other Arab countries follow Egypt, in right and in wrong. We have followed Egypt in nationalizing the economy and the press and in stifling freedoms, and we all suffered and lost. Similarly, we would follow Egypt should it build a modern economy on sound footing, and release public and press freedoms. I believe that the idea of regional economic cooperation was proposed by the government of Recep Tayyip Erdogan after its efforts to join the European Union faltered. I heard him in Istanbul give a detailed explanation of the idea, and now, there are open economic borders among Turkey, Syria, Jordan and Egypt. There is electric linkage between Egypt and Jordan, which was going to be followed by electric linkage between Egypt and Saudi Arabia, and Syria and other countries, and then most importantly, gas linkage, and ambitious plans to include Iraq and Libya in the regional economic group. This economic cooperation must be maintained and built upon. It is real, albeit undermined by the rampant corruption which made Egypt rank 98 on the Corruption Perception Index, compared to 19 for Qatar, the richest Arab country, and perhaps the richest country in the world, when its per capita income is considered. I pray that Egypt will make steady strides forward, so that we make steady strides forward with it, and alongside it. [email protected]
