Military coup would be bad for Egypt: finance minister

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A military takeover in Egypt would be bad for the country’s people and its economy, its finance minister Samir Radwan said in an interview with the BBC.

“The nightmare of a coup is very bad for everybody, for the young people, for the economy,” he told BBC radio. “That is a scenario we would like to avoid, reports Reuters.
“I think the military is highly disciplined and they have taken a decision not to fire at the young people. This stalemate cannot continue forever.”

Protesters are planning more demonstrations on Friday after President Hosni Mubarak disappointed their hopes he was about to resign.



Meanwhile Reuters reports that Egypt’s finance minister says that the military was not intervening in daily government matters, the budget deficit would rise but only to last year’s level, inflation would not surge but growth could take a knock.
“The armed forces are there to protect the demonstrators and to protect the country but the powers have been handed over, not to the military, but to the vice president. So if that formula works, we will be in a much better position,” Samir Radwan told Reuters in a telephone interview.
“The government is functioning. Yesterday I had the meeting of the ministerial committee that monitors the economy every day … We have no intervention from the military. My communications are with the prime minister,” he said.
“So far we have been doing very well under the circumstances. The budget is safe. We have not added any pressure so far on the budget in view of the package I have launched last week. The banking system is functioning very well,” he said.