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Al Ghazali: Freezing Businessmen Assets Disastrous to Egyptian Economy
Doctor Abdul Hamid Al Ghazali, a professor in the Faculty of Economy and Political Sciences Cairo University, confirmed that attorney general’s decision of freezing the assets of 29 Muslim Brotherhood leaders is a complete disaster to the Egyptian economy which has been recently facing a state of stagnation. This state of stagnation is clearly illust
Tuesday, January 30,2007 00:00
by Ikhwanweb

Doctor Abdul Hamid Al Ghazali, a professor in the Faculty of Economy and Political Sciences Cairo University, confirmed that attorney general’s decision of freezing the assets of 29 Muslim Brotherhood leaders is a complete disaster to the Egyptian economy which has been recently facing a state of stagnation. This state of stagnation is clearly illustrated through the problem of poverty, about 85 % of the overall population are poor.

"The oppressive regime’s wrong economic policies have led to a rise in unemployment, as 10 million jobless persons don’t find any work opportunity" Al Ghazali told Ikhwanweb.

"The wrong policies led to the spread of corruption in all sectors, particularly in the process of privatizing the public productive units", said Dr. Al Ghazali, adding that the regime didn’t stop short of doing so, but what adds fuel to fire is the decision of the attorney general has led to a financing gap between the savings and the required investments for raising the national economic growth process .

Al Ghazali said:" This decision has forced these investments into fleeing the Egyptian market and not to return to it. The latest collapse in the stock exchange proves this, as the index plunged sharply about 5.2 %.

He pointed out that:" Although the decision of attorney general is destructive and unjust to fully successful companies, aiming to eradicating resources of funding the Muslim Brotherhood, but this decision is actually eradicating the resources of the Egyptian economy, specially that the frozen companies are personal properties owned by citizens whom this regime should have encouraged. This tyrannical regime is actually destroying them in a systematic way.

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