Egypt's government has to deliver growth to survive: investment minister
Thu, Oct 23 12:33 PM EDT By Stephen Kalin and Michael Georgy Egypt's government has to deliver economic growth to survive and can't let complex laws and bureaucracy discourage foreign investment, the country's investment minister said. Egyptian President Abdel Fattah al-Sisi, whose two predecessors were toppled by protests in the past three years, has implemented some of the economic reforms that may boost investor confidence, slashing fuel subsidies and raising taxes. But the big question is whether investors can expect real change when yet another man drawn from the military is steering a nation plagued for decades by red tape, corruption and other obstacles that keep foreign companies away. Investment Minister Ashraf Salman said Egyptians will not allow the president or his ministers to maintain a system which has led to a soaring budget deficit, dwindling foreign reserves and general economic malaise. "The big change that's coming this t...