Cairo, 18 Shafar 1434/31 December 2012 (MINA) -Egyptian President  Mohammed Morsy said that his country would never go bankrupt, the statement follows after news stories were published in the Egyptian media arguing that Egypt was about to go bankrupt.

      “Egypt’s economy will improve in the next period. The reserves of the Egyptian Central Bank went up 1.1 billion USD when compared to last July and reached 15 billion USD,” Said Morsy, according to Anadolu Agency report received by Mi’raj News Agency (MINA) Sunday (30/12).

      Delivering a speech at the Shura Council of Egypt on the occasion of the beginning of the new term, President Morsi indicated that Egypt would never give up as long the productivity and consciousness of the Egyptian people continued.

      “In the third period of 2012, the Egyptian economy grew 2.6 percent. The Gross National Product of Egypt went up to 2.2 percent from 1.8 percent in the period 2010-2011,” Morsi said.

      President Mohamed Morsy reiterated his call to all parties to join the national dialogue, to discuss the election law for the upcoming parliamentary elections.

      He said all points of view should be expressed so that the will of the people is realized and to assure the impartiality and fairness of the elections.

      The president expressed his confidence that that Egyptian people will exercise their right to vote in the next House of Representatives election under the supervision of the judiciary. He said it will the first time that the lower chamber of Parliament is a partner in choosing the government, as well as monitoring its performance.

     Morsy went on to say that since the first meeting of the current government in August, they have been working on urgent rescue plan to combat poverty, address corruption, and achieve an equitable balance in the distribution of tax burdens.(T/R-010/R-006)

Mi’raj News Agency (MINA)

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