Egypt's Morsi defends economic recovery, criticizes opposition
Author: Nehal El-Sherif
Cairo (dpa) - Egyptian President Mohammed Morsi on Saturday boasted of economic improvement in the country since his assumption of power in July, as he criticized the opposition for refusing to hold talks with his government.
"The new constitution ends a transitional period that lasted too long," Morsi said, referring to a period of almost two years since a popular uprising ousted longtime leader Hosny Mubarak.
"As we celebrate the country's new constitution, it is now the time to build a professional state," said Morsi, addressing the upper house of parliament, known as the Shura Council.
The head of Al-Azhar, Sheikh Ahmed al-Tayeb, and Coptic Pope Tawadros II were among the attendees.
The constitution, drafted by an Islamist-led panel, was approved by 63.8 per cent of votes cast in a two-round referendum held this month.
There have been concerns about Egypt's economy, especially after credit-rating agency Standard & Poor's cut Egypt's long-term rating to B-, while the Egyptian pound has declined against the dollar.
However Morsi rejected those concerns and attacked opposition leaders who have warned the country might go bankrupt.
"Those who speak of the country's bankruptcy are the ones who are bankrupt," said Morsi.
"Despite the huge challenges facing the Egyptian economy, the general indicators have reflected noticeable improvement," he added, while promising 20,000 jobs in the industrial sector.
He boasted a 2.6 per cent growth in the third quarter of 2012, said that foreign reserves increased by 1.1 billion dollars from July to 15.5 billion dollars in November and that the number of tourists over the past four months had doubled compared with a six-month period last year.
Morsi, Egypt's first freely elected civilian president, called on the opposition to join his call for dialogue, in the coming period to discuss the electoral law that will government the elections for the lower house of parliament.
"We completely reject violence" from any faction, said Morsi in a criticism directed at the opposition who have been calling for protests over the past weeks, where backers and opponents of the new constitution fought street battles in which some nine people died.
Opposition groups say the constitution could undermine political rights and sideline minorities.
The newly adopted constitution allows the Shura Council to exercise legislative powers, which had temporarily been vested in the presidency, until a new lower house is elected.
No specific date has been set yet for the legislative polls, though the charter states the election should be held within 60 days of its adoption.
Meanwhile, local media reported that an Islamist lawyer have withdrawn a lawsuit he filed to Egypt's public prosecutor against three opposition leaders, accusing them of inciting to overthrow Morsi.
The complaint targeted Nobel peace prize laureate Mohammed ElBaradei, and former presidential candidates Amr Moussa and Hamdeen Sabahy. They lead the country's main opposition alliance, the National Salvation Front, which alleged fraud in this month's constitutional referendum.
