Anwar El-Sadat head of Reform and Development Party RDP calls President Sisi and the government for quickly forming a crisis cell that manages the Egyptian economy in the next phase which seems to witness a global recession and a decline in economic growth. If necessary action is not taken at this outset step social unrest will be the result.
El-Sadat points out that the sharp deterioration hitting most of the world's major stock markets accompanied by decline in oil prices clearly reflects that the global economy may be witnessing decreases in growth rates and increase in unemployment, in addition to the deterioration impact on global trade through the Suez Canal.
El-Sadat added that the political leadership and the government must interact seriously with such grave issues taking place a time intolerable by the Egyptian economic and social circumstances. Sadat further highlighted that both leadership and government should accelerate steps towards implementing structural reforms and should take away administrative barriers and should gain international and local investors' trust and should elevate transparency of and participation in decision-taking so as to find a way out for this critical stage.
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