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Egypt's neoliberal reforms have benefited only a lucky few | Jack Shenker | Comment is free | guardian.co.uk

  • Then 2004 brought a new cabinet which swiftly cut the top rate of tax from 42% to 20%, leaving multimillionaires paying exactly the same proportion of their income into government coffers as those on an annual salary of less than £500. Special economic zones were created, foreign investment reached dizzying heights ($13bn in 2008) and, in the past three years, economic growth has clocked in at a consistently high 7%. The minimum wage, incidentally, has remained fixed at less than £4 a month throughout. The global business community applauded Mubarak's rule as "bold", "impressive" and "prudent".
  • The conference was entitled "Just for you". Whom that "you" was wasn't specified, but it can't have been any of the 90% shut out of Cairo's miraculous economic boom. As the eminent Egyptian economics professor Galal Amin argues, "Those who continue to preach the trickle-down theory are likely to be the ones who do not really care whether anything trickles down at all."

التبكيت: و يأتى شعبان و يضرب كرسى فى الكلوب

Sha3bolla talks about the NDP conference, economy, rising prices, workers' sit-ins, Mubarak.

www.tabkeet.com/...blog-post_985.html - Preview

NDP Egypt Shaaban Music LOL Pimps 2009

EGYPT: NDP conference fails to ease succession fears | Babylon & Beyond | Los Angeles Times

  • Today, in what was seen as a speech to raise his popularity among Egyptians, Gamal Mubarak defended the party's policies without delving into the succession drama, stressing that the NDP is working for the good of Egyptians rather than serving the interests of the country's tycoons as the opposition claims. Many in Egypt, a country where about 40% of the population lives on $2 or less a day or, regard the ruling party as corrupt and looking out only for the rich and politically connected. 
  • Regarding the financial aspect, opposition figures were disillusioned to see NDP members boast of the country's booming economy throughout the first two days of the conference. The vice president of the opposition Democratic Front party, Sekina Fouad, said, "Every year they [NDP] talk about the success of previous plans and the bright ideas they still have for developing the country, but what we witness on the ground is further deterioration in every Egyptian's life." 
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