Controversy over Egypt’s economic future under emergency state

A number of political experts praised the decision taken by Egypt’s President Abdel Fattah Al Sisi to raise the state of emergency in the country after the recent bombings that hit the churches in the cities of Tanta and Alexandria. They stressed that the decision will perform a major role improve the security situation in the country and consequently attract the foreign investments. However, others said that the decision could leave negative repercussions on the economic situation.

Banking expert Hany Aboul Fotoh said that the state of emergency could lead to a notable decline in the foreign investment, saying that the decision could lead the foreign investors to leave the country. He added that the decision could leave a negative impression over the security situation witnessed in the country. He stressed that the decision could negatively affect the economic situation despite the steps taken by the government to achieve economic reform during the recent period.

On the other hand, economic expert Rasha Abdou said that the decision to raise the state of emergency is considered a major step to keep the strength and prestige of the Egyptian state. She added that the decision will not affect the economic situation, as the investor prefers to deal with a strong government.

She stressed that the decision will perform a major role to achieve political and economic stability inside the country, adding that the investor will turn to invest his money in the country if he felt the state of security and stability. She stressed that the decision will reassure the foreign investors over their possessions and investments inside the country during the country.