|David interviewing the former director of Chatham House|
Under Chatham House rules I am unable to tell you about the speakers who attended this high level talk on UN development report in Egypt, or their affiliations.
As Egypt stands primed for a new leader, attention is weighted towards kick starting the economy.
A couple of interesting stats emerged from the UN report whose key indecis is a new social contract, and the protection of the weak.
- The banks of Egypt we heard had $450bn in liqidity for funds they are waiting to spend upon.
- Tax as pecentage of GDP is the lowest in the world
- Water shortages is a real issue
- The oil industry is the main foreign currency earner
- The military uses twice as much fundings as that put in health and education
- Jobs are not being created and the hardest hit are women.
- Payments to the political cliques should end and the exclusion model had run its course.