Back to the complete issue
Wednesday, 16 November 2016

Bahaa El Din says the Egyptian left needs to revise its lines of opposition

Ziad Bahaa El Din criticises leftist political parties, says Egypt needs better opposition: Former deputy Prime Minister Ziad Bahaa El Din says in his Al Shorouk column that political opposition to the Ismail government’s economic reform agenda fails to differentiate between the causes and the consequences of economic reforms. It is the years of poor economic policy-making that have led to “impoverishing” Egyptians, not the most recent spate of reforms, he says. He is specifically unhappy with the actions (or lack thereof) taken during the period that followed the EEDC and the reliance on national megaprojects at “unjustifiably” excessive costs and speeds. He also says that if leftist parties believe that investments are essential for economic development, then there is no business for them in setting what investors can or cannot invest in, their profit margins, or in controlling profit repatriation. Bahaa El Din, a former member of the Social Democratic Party, also asks opposition movements and parties to be a bit more realistic, and calls them ideologically inconsistent. They can either agree to a doctrine that believes in lower taxes and a reduced government involvement or higher taxes so that the government can increase its spending, but the mix of calls for lower taxes and increased government spending does not add up. Bahaa El Din says that while the government needs to revisit its economic policies, the opposition movements also need to revise theirs.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.