So self-confident is Egypt today that such a step would easily be accepted should the need arise for it. In an interview given to Al Ahram , Dr. Yousef Botros Ghali Minister of State at the Cabinet talks about the transparency of information as a principal component of sound management of the economy and about Egypt s integration into global economy. Sharing information, statistics and evaluations contribute largely to the creation of an active economy. An investor would want to find out about a country s GNP, about average prices, about the volume of trade shipped via ports and railroads. He would want to know about consumption of cement and reinforcement iron, and about the volume of transaction on the stock exchange.
Transparency is an important element in the sound management of modern economy.
Without it, we would to pay dearly in terms of lower growth and investment rates. This was what President Mubarak opted for upon his assuming power in 1981 more as a technical than an ethical requirement. Now that we stand reliant on the private sector and on foreign investments, transparency stands a must. We have to be honest and clear about our figures. There is indeed a new economic world order with rules governing its investments.