Radwan attacks Egyptian economy

Egypt’s finance minister criticises Morsi Cairo - Amr el-Daly Egypt’s Finance Minister Samir Radwan has expressed hope that new loans pledged by Libya and Qatar could help the country clamber out of economic crisis, meanwhile criticising President Mohammed Morsi’s government for its economic performance.Radwan has claimed both loans should be used to finance land reclamation and development strategies to create means for economic stability in the future.Expanding wheat and cotton cultivation projects could this about, the minister added, halting Egypt’s reliance on foreign exports of basic goods.“We need a promising minister to improve the economic situation,” Radwan argued.Egypt’s finance minister has also expressed doubts that the International Monetary Fund (IMF) will in fact provide Morsi’s administration with a loan – currently under negotiation – due to ongoing political unrest and economic instability.“If Egyptian tourism can restore itself, it might stop the country from actually needing the IMF loan,” he claimed.